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Tankers and Gas Geopolitics Political Risk and Trade

Tanker gains from Israel-Iran conflict have largely evaporated

  • Middle East Gulf-China VLCC rates have fallen 63% vs peak on June 23
  • Middle East Gulf-Japan LR2 rates down 51% from recent high
  • Now that conflict rate catalyst has waned, hope shifts to future rate upside from Opec+ production

  • Analysis

Oil prices and tanker stocks immediately plunged when the Israel-Iran ceasefire was declared. The freight market has now followed suit. Crude and product tanker spot rates in the Middle East have suffered a major reversal

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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