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Weekly Tanker Time Charter Estimates, July 15 2020

The crude period market has been quiet this week except for one fixture for a modern VLCC reported for two years at around $31,000/day.

With the exception of a couple of MR fixtures, the clean period market remained dull this week although there is an undercurrent of optimism as economies emerge from lockdown that demand for clean products will pick up.

Oil prices rose mid-week following news of a sharp fall in US crude inventories as the market awaits the outcome of the latest OPEC+ meeting.

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