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Weekly Tanker Time Charter Estimates, November 4 2020

Crude rates remain under pressure as the usual Q4 spike seems unlikely to materialise. A few short term VLCC fixtures have been reported this week mostly around or below the six-month mark.

Another quiet week for clean with many countries in Europe heading back into lockdown, adding a further burden to demand. There has been little to report on the period front apart from a few MR fixtures where the average rate for one-year is estimated to be around $13,000/pdpr.

Oil prices have moved up this week as the American Petroleum Institute (API) reported a major draw in crude oil reserves for the last week of October and investor optimism rose ahead of the result of the US presidential election.


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