Tanker Rates Keep Rising After Biden’s Last Sanction Push ...Middle East

OILPRICE - Economy
Tanker Rates Keep Rising After Biden’s Last Sanction Push
source : OILPRICE ( Middle East ) () 68
Freight rates for crude oil carriers extended a climb that followed the U.S. federal government’s decision to impose fresh sanctions targeting Russia’s energy industry, with a special focus on tankers. Citing industry sources, Reuters reported today that demand for tankers was rising as traders looked to send more Middle Eastern oil to Asia to replace a lot of Russian barrels, adding that rates could rise even higher next month. The publication reported Shell had booked as many as three very large crude carriers at a rate of Worldscale…

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