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Weekly Tanker Time Charter Estimates, June 12 2019

VLCC period rates pushed up again this week, boosting the overall sentiment for the crude market.

On the clean side, a few short-period fixtures have been reported, the average one-year rate for an MR is currently estimated as $14,850/pdpr.

Oil prices have fallen this week due to a weaker demand outlook and an increase in US crude inventories, despite sentiment that OPEC will extend supply cuts.

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