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Weekly Tanker Time Charter Estimates, July 31 2019

Period rates for crude moved downwards this week, the average one-year rate for suezmaxes is estimated at $24,000/pdpr.

Although clean rates for shorter periods have fallen this week, it has been a busy week for the MR market with a number of fixtures reported, ranging from six months to three-years.

Oil price have been boosted by a drop in inventories this week and the expectation that the US fed reserve will cut borrowing costs for the first time in over a decade.

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