Tanker Rates Advance Buoyed by Rising U.S. Oil Exports: Chart

Aframax tanker rates in the U.S. Gulf Coast-to-Caribbean route jumped 12 percent in three days last week as Latin American buyers sought more U.S. crude and condensate, says Court Smith, director of research with shipbroker MJLF & Associates. “We’ve seen a lot of tankers booked to lift U.S. crude and condensate from Tuesday onward and this is very supportive to the market,” he said by phone from Stamford, Connecticut.

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