BWET ETF Up 4,427% in 2026 Amid Iran War Disruptions

The Breakwave Tanker Shipping ETF (NYSEARCA:BWET) surged 4,427% in 2026 due to the closure of Iran's Strait of Hormuz, causing daily tanker charter rates to exceed $470,000. The closure followed military action that started on February 28, which limited 10.5 million barrels per day of crude output in April, per the U.S. Energy Information Administration. This disruption drove Brent prices to an average of $117 per barrel, with WTI reaching as high as $105.67. BWET is now recognized as the best-performing exchange-traded product of 2026, reflecting significant shifts in the tanker freight market, impacting strategies for traders and investors.

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