Tanker Rates Extend Rally on Sanctions, Demand to Load Mideast Oil, Products

Oil shipping rates extended their rally on expectations of a tightening in global tanker supply from wider U.S. sanctions on Russia’s fleet and traders’ demand for ships to load Middle East oil for Asia, industry sources said on Wednesday. On Tuesday, Shell booked three Very Large Crude Carriers, capable of carrying up to 2 million barrels of … Read more