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Weekly Tanker Time Charter Estimates, May 26 2021

Despite an increase in demand for crude carriers thanks to activity in the middle east the crude period rate has remained quiet this week with rates moving sideways.

After some excitement in the market following the colonial pipeline incident, the market has now quietened once again, aside from the MRs that have remained busy with fixtures ranging from six months to three years.

Oil prices rose mid-week following a bullish report from the American Petroleum Institute (API) that reported a draw in crude oil inventories.

 

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