The latest Houthi attack on shipping in the Red Sea has pushed up fuel tanker rates and diesel prices, with shipping executives and oil market analysts expecting further increases for both, Financial Times reported Wednesday.

Charter prices for the largest tankers used for oil products such as diesel, petrol and jet fuel have more than doubled in the past week to $101,500/day, nearly 5x above November's daily average $22,750, according to the report, which cited shipbroker Gibson.

Torm (NASDAQ:TRMD) CEO Jacob Meldgaard said shipping diversions around South Africa's Cape of Good Hope will tighten the market, adding 5% to worldwide demand for product tankers - a "very material" increase at a time when utilization of the fleet is very high.

The attack also has lifted global diesel prices to nearly three-month highs, with gasoil futures popping 15% since mid-December to $845/metric ton, reflecting rising concerns that Europe will be squeezed by higher costs and supply disruptions.

Euronav (EURN) CEO Alexander Saverys told FT that further diversions likely will push up rates for the largest oil tankers; the company currently is not sailing through the Red Sea.

While crude tankers are chartered weeks or months before voyages, the longer distances will push up rates; Suezmaxes, which carry 1M barrels of oil and are the largest kind able to use the Suez Canal fully laden, are expected to be particular beneficiaries, according to FT.

Other potentially relevant stocks include Frontline (FRO), Scorpio Tankers (STNG), Nordic American Tankers (NAT), International Seaways (INSW), Tsakos Energy Navigation (TNP), DHT Holdings (DHT), Dorain LPG (LPG), SFL Corp. (SFL)