US EditionOil Tanker Rates Retreat as Middle East Tensions Cool
11 Articles
11 Articles
Oil Tanker Rates Retreat as Middle East Tensions Cool
Spot rates for very large crude carriers (VLCCs) sailing from the Persian Gulf to Asia have fallen sharply in recent days, as military tensions near the Strait of Hormuz subside and shipping flows resume a more stable pattern. Charterers that had paused bookings or rerouted vessels in mid-June amid fears of an Iranian blockade have begun re-entering the market, easing pressure on freight. According to tanker brokers cited by gCaptain, VLCC rates…
Atlantic LNG shipping rates down, Pacific rates up
“Spark30S (Atlantic) freight rates remained relatively steady this week, dropping by $1,000 to $48,750 per day this week,” Spark’s data lead Qasim Afghan told LNG Prime on Friday. In comparison, Spark25S (Pacific) rates continue to rise, increasing by $10,500 to $42,500 per day, as tight vessel availability continues to affect the market, he said. In Europe, the SparkNWE DES LNG dipped compared to last week. “The SparkNWE DES LNG front month pri…
Weekly Focus - Budget Risks Replace War Concerns, for Now - Action Forex
The conflict between Israel and Iran has deescalated and a truce seems to hold. This has calmed market fears that Iran might disrupt global energy supplies by hindering traffic through the Strait of Hormuz, and the oil price has declined around 15% since last week's peak, taking it down to levels similar to before Israel's surprise airstrike. Financial markets in general responded relatively calmly to escalation of the conflict, and hence the re…
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