November 15, 2024 16:51 GMT
OIL: Mideast Tanker Surplus Narrows
OIL
An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days narrowed to 25%, according to Bloomberg sources.
- This compares to 31% last week. The average for the past 12 months is 25%.
- Earnings on the benchmark ME-China route were $34,932, according to Bloomberg citing Baltic Exchange data, extending a weekly gain of 30%.
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