Core Viewpoint - The arbitrage opportunity for American crude shipments to Asia is diminishing due to rising tanker rates and cheaper Middle Eastern oil, which is more accessible to the Asian market [1][2][4]. Group 1: Shipping Costs and Routes - The charter rates for supertankers from the U.S. Gulf Coast to Asia have surged to $70,000 per day, while rates for Middle East to China routes are higher, reaching approximately $90,000 to $100,000 per day [1][2]. - The shipping duration from the Middle East to Asia is about two weeks shorter than from the U.S., making Middle Eastern crude more economically viable [2]. - The additional shipping cost for U.S. crude has reached $1.75 per barrel, which could effectively close the arbitrage window [4]. Group 2: Market Dynamics - OPEC's decision to unwind quotas has led to an increase in cargo availability in the East of the Suez, influencing tanker owners to focus on this region [3]. - The narrowing premiums of Middle Eastern benchmarks like Dubai and Oman over Brent Crude have made Middle Eastern shipments more competitive, with the premium of Murban dropping from $3.84 per barrel to $1.63 per barrel within two weeks [5].