Tanker equities rise after historic US oil collapse

The historic implosion of US WTI crude rubs off on North Sea oil, which is down 21 percent as of Tuesday midday. This causes tanker equities and rates to rise, but it is not sustainable in the long term, says Arrow Shipbroking Head of Research Burak Cetinok.

Photo: Mark Ralston/AFP / AFP

West Texas Intermediate crude's Monday collapse is resulting in major fluctuations within both oil and equity markets on Tuesday.

US WTI oil was still trading at a negative price as of late Tuesday morning, and this has impacted European benchmark oil Brent's price, which has also taken a nose dive.

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