Crude tanker freight rates are retreating after reaching a peak in early October, but geopolitical risk, longer voyages and constrained vessel availability continue to support a volatile market.
The crude tanker market has moved into a correction phase after an exceptionally strong surge in freight rates. Lloyd’s List reports that the Hormuz-related “super spike” peaked in early October and has since begun to unwind. Rates nevertheless remain far more volatile and elevated than they were before the disruption.
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