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Weekly Tanker Time Charter Estimates, May 15 2019

A busy week for the VLCC period market this week, rates have been stable with a number of period fixtures reported ranging from one month to three years.

A number of LR2 and MR period fixtures reported, the average one-year rate for an LR2 is estimated at $20,000/pdpr.

Oil prices rose by almost 2% on Tuesday following the news of various attacks on Saudi Aramco, causing the shutdown of a pipeline and limiting supply.

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