As US-Iran peace deal teeters, Wall Street sinks and tanker shares rise
- Dow falls 577 points on Wednesday yet shares of crude tanker, product tanker and LPG carrier owners add to recent gains; they have risen by over 10% in the past week
- Tanker shares have experienced large swings since the US-Iran peace memorandum was signed, first up, then down, then back up again
- Shares of BWET tanker shipping exchange-traded fund surged by 17% on Wednesday
Tanker stocks thrive amid disruption and inefficiency. The way things are going between the US and Iran, the Hormuz crisis appears far from over — and tanker stocks are yet again on the ascent
