Reported 1 day ago
Oil tanker rates have surged by 39% following the Biden Administration's sanctions on approximately 160 Russian oil tankers, threatening to disrupt the supply chain for Russia's petroleum trade. This significant jump in rates is attributed to the reduced number of available vessels and increased demand from countries like India and China seeking alternative oil sources. Analysts predict that the sanctions could further strengthen the market, although concerns remain about how these measures will be addressed by incoming President Trump.
Source: YAHOO