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Home News Oil & Energy

Russia oil turmoil seen driving tanker market higher

admin by admin
November 28, 2022
in Oil & Energy
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  • Freight rates have hit record levels
  • Freight costs add to inflationary pressure
  • Longer voyages require more planning

LONDON, Nov 28 (Reuters) – Tough new sanctions on Russian oil shipments taking effect from December are likely to boost already high tanker rates as buyers race to replace cargoes and are forced to use longer routes, a leading ship manager said.

In the latest action against Russia in response to its invasion of Ukraine that began…



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