Supertanker Prices Spike By Nearly 678% On Oil Market War And Storage Plays

Despite a sobering week for the global crude oil market as the coronavirus or Covid-19 outbreak strangles the global economy, shipping rates for supertankers or very large crude carriers (VLCCs) – capable of shifting 2 million barrels – have gone through roof. At 15:26 EDT on Thursday (March 12), the Brent front-month crude contract was … Continue reading Supertanker Prices Spike By Nearly 678% On Oil Market War And Storage Plays