October 13, 2026 07:28 PM GMT The Oil Manual M Global Idea Exceptional Shipping Cost and Its Impact on Brent Prices Gulf crude exports are back within 10% of pre-conflict levels, yet Brent holds above $100/bbl. Supply, inventories and geopolitical risk all play a role, but one factor benefits Brent specifically: its short-haul nature at a time when freight is unusually expensive. Key Takeaways Exhibit 1: The majority of crudes that are often imported into Northwest Europe have landed costs of $110-120/bbl f ...