Ban against Russian oil and gas affects shipping on several fronts
US decision to halt imports of Russian oil pushes oil prices up and may hit shipping in the long run if global demand dives, assesses analyst Lars Jensen. Carriers already have to pay significantly more for fuel, and the high oil prices may threaten global demand.
by shippingwatch and marketwire
The US and UK decision to stop all imports of oil and gas from Russia will make the already high oil prices soar even further, and the development may end up undermining the shipping market if demand starts diving, forecasts container analyst Lars Jensen of Vespucci Maritime.
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