Oil Falls to Lowest Level Since August
Brent crude briefly falls below $90 as hopes of diplomatic breakthroughs in Iran and Ukraine accelerate the oil market selloff. Crude Says Peace, Tanker Rates Say Not So Fast - Crude oil prices have…
Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.…
Brent crude briefly falls below $90 as hopes of diplomatic breakthroughs in Iran and Ukraine accelerate the oil market selloff.
- Crude oil prices have plunged by almost $30 per barrel since the US midterm elections, however, stubbornly high freight rates in the Gulf suggest not every segment of the oil markets deems the US-Iran war to be ‘effectively over’.
- The cost of chartering a VLCC for a voyage from the Persian Gulf to China has dipped only marginally over the past two weeks, with current fixtures coming in around $72-74 million ($36-37 per barrel).
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