Tanker rates may drop following attack on Saudi Arabian oil plants
VLCC and LPG rates will face pressure following Saturday's drone attack on two Saudi oil plants, assesses investment bank Cleaves Securities. The bank furthermore predicts that the strike may lead to "several attacks on shipping" in the area around the Strait of Hormuz.
Oil prices are soaring and tanker rates are expected to come under pressure after two Saudi Arabian oil plants were struck by a drone attack Saturday, wiping out half of the country's oil production. The volumes lost corresponding to 5 percent of the world's daily oil supply.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
