Tanker Rates Decreasing In Spite of New Restrictions
An EU ban on seaborne imports of Russian crude went into effect on December 5th, 2022, in hopes that this market-altering event would hike the crude tanker rates. Not only has there been no sign of rate hikes almost 30 days later, but tanker rates have gone down double digits since the Russian restrictions went […]
Diesel Prices Increase After Oil Production Cut
Blink and you’ll miss it – diesel prices are on the rise again, increasing by an average of $.40 in the span of a single week. These price increases come shortly after the OPEC Oil cartel and its allies announced that it will be decreasing oil production. This production cut comes only a few months […]
