The cost to transport oil via crude carriers is $1.5 million per day due to risk premiums.

Posted by The MeidasTouch Podcast, Oct 27, 2026Checked Nov 2, 2026

Polygraph verdictTrue

Sources: 5 support1 context
Said: 1 time·
Confidence: 60%

The MeidasTouch PodcastOct 27, 2026

Sources from October 22-23, 2026 put daily VLCC charter rates for Gulf and Hormuz routes at about $1.4 million, with one Hormuz-passage quote of $1 million to $1.5 million, so the claimed $1.5 million per day is at the upper end of reported figures.

This claim is about the present, so it is judged as of the day it was checked.

What was said

… But even if it was true, would you go on an airplane knowing that 5% of the time your airplane crashes? That doesn't exactly instill confidence. "This is a milestone. We're getting more oil out than ever before." No, you're not. You're not, and it costs $1.5 million a day right now, because the risk premium is so high for these crude carriers, that it costs them $1.5 million a day to take out the oil. That in and of itself adds $33 to each barrel of oil. That's not a good thing right now. What are you boasting about, you freaking lunatics? And so it's just the the craziness of these lies are so outrageous. They're They're hiding in the sewers. …

The MeidasTouch Podcast · Oct 27, 2026· from the transcriptPost →

What we found

Supports. A Pyxis CFO, as cited in a Nikkei-based report dated October 23, 2026, said brokers were quoting $1 million to $1.5 million per day for passing through the Strait of Hormuz.[2]

Supports. Reuters analysis cited by SeaNews on October 22, 2026 put VLCC daily freight rates at approximately $1.4 million, and SunSirs (October 23) reported Persian Gulf-to-Asia VLCC rates surpassing $1.4 million per day.[3][4]

Supports. Reuters (October 15) reported that shippers price in a risk premium for attacks on vessels, and Goldman Sachs (October 21) cited a $7 per barrel war-risk premium in the Strait of Hormuz as part of freight costs, supporting the causal link to risk premiums.[1][5]

Context. Some sources give per-barrel or annual-average figures (for example, Business Insider's VLCC rate of over $200,000 per day in October), which describe different routes or measures and do not contradict the Hormuz-passage daily charter figure.[6]