Seized Oil Tanker Near Singapore Coast Looks More Lucrative Now

With the Strait of Hormuz still largely blocked and countries globally struggling to get enough oil, there are some 1.2 million barrels of it sitting untouched off the coast of Singapore.

The Arman 114, an Iran-flagged supertanker that Indonesia seized in 2023, is moored near Batam, around 15 nautical miles from the wealthy city-state.