Oil Traders Hustle for Tankers to Divert U.S. Crude to Asia
- There’s been a spike in interest in the arbitrage trade
- BP, Shell and Vitol among companies that are seeking vessels
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Oil majors and traders are scrambling to book supertankers to try and divert a flood of American crude to Asia, betting the region is the best place to store the surplus while the market waits for a rebound.