Oil-Tanker Rates Jump as Ship Surplus Falls to Six-Month Low
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Hire rates for the largest oil tankers gained the most in almost three weeks as a surplus of the vessels reached a six-month low in the Persian Gulf, the world’s biggest crude-loading region.
There are 12 percent more very large crude carriers available over the next 30 days than probable cargoes, according to the median in a Bloomberg News survey of four shipbrokers and two owners today. That’s down from 19 percent last week and the smallest excess since Nov. 27. Each of the tankers can hold 2 million barrels of oil.