Tanker Rates Have Year’s Biggest Weekly Gain as OPEC Cargo Gains
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Rates for the largest oil tankers had the biggest weekly gain this year amid speculation OPEC is expanding shipments to meet rising demand as refineries return from maintenance.
Charter costs for very large crude carriers on the benchmark Middle East-to-Asia voyage rose 0.3 percent to 46.67 industry-standard Worldscale points today, according to the Baltic Exchange, the London-based publisher of freight rates. That took their weekly gain to 19 percent, the highest since at least the start of January.