If the Gulf of Mexico oil spill spreads, it could prompt higher shipping rates, especially for transporting oil, an analyst told CNBC Monday.
So far, shipping in and around heavily-trafficked parts of the gulf is business as usual, in spite of the spill. But that could change if the slick expands.
“This can lead to slower drilling in the Gulf, which means more oil coming from longer distances to come and satisfy U.S. demand,” said Urs Dur, shipping and logistics analyst at Lazard.