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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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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%.