Sanctions on Russia send tanker stock prices to one-year highs
- Positive drivers continue to pile up for tanker rates, buoying share prices
- BWET exchange-traded fund that buys VLCC FFAs rose by 8% on Thursday, to its highest point since mid-July 2024
- Shares of BWET, Frontline, Okeanis Eco Tankers, Teekay Tankers and Hafnia hit new 52-week highs on Thursday
Whether new US sanctions can actually staunch Russia’s oil exports remains to be seen, but stock traders are betting that the latest actions will ultimately push rates and profits higher
