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Oil companies are increasing tanker bookings to haul Persian Gulf crude to the U.S. at the...

Oil companies are increasing tanker bookings to haul Persian Gulf crude to the U.S. at the fastest pace since September, spurring a threefold surge in shipping rates by the end of April for Frontline (FRO) and other owners. Charters doubled to 26M barrels in the latest four-week period, and daily revenue for VLCCs will reach as high as $30K within six weeks, from $12.8K now, Morgan Stanley estimates.
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