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Oil Tanker Rates Soar To Astronomical Levels — Tsvetana Paraskova

Summary:
Sky-high oil tanker rates are weighing on physical crude trade. On Monday, the earnings on the benchmark key crude oil trading route hit 0,000 per day.Falling premiums on spot prices for various crudes, however, could offset some of the high shipping costs, traders told Bloomberg.OilpriceOil Tanker Rates Soar To Astronomical LevelsTsvetana Paraskova

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  • Sky-high oil tanker rates are weighing on physical crude trade.
  • On Monday, the earnings on the benchmark key crude oil trading route hit $100,000 per day.
  • Falling premiums on spot prices for various crudes, however, could offset some of the high shipping costs, traders told Bloomberg.
Oilprice
Tsvetana Paraskova
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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