- Oil tanker rates have jumped to a four month high as traders booked the most-ever cargoes for this time of year, offering signs that Middle East producers could be adding barrels to the market just before OPEC cuts.
- Traders booked 141 spot cargoes for the month of October, the highest in at least 12 years, and dayrates on shipments from the Middle East to Asia jumped to nearly $46,900 while a surplus of crude tankers in the Persian Gulf matched the lowest level in a year, Bloomberg reports.
- Relevant tickers include FRO, NAT, TNP, TK, NNA, DHT, GNRT, STNG, GNR, NAP.