News Headlines:
OIL DAYBOOK EUROPE: OPEC+ Supply Hike in Jeopardy as UAE Rebels (Bloomberg)
In an unexpected turn of events at the OPEC+ meeting, the United Arab Emirates blocked a preliminary deal on output increases, prompting the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices. Oil Holds Gains Near $75 After OPEC+ Squabble Delays Output Deal.
Oil Tanker Owners Hurt By Weak Demand and Expensive Fuel (Bloomberg)
The tanker shipping market is currently “trapped” between rising marine fuel costs and low chartering demand, said Peter Sand, chief shipping analyst at Baltic and International Maritime Council. Marine fuel costs have risen in-line with higher crude prices, seeing Sing LSFO the highest price since Feb 2020.
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FIS Tankers Daily Report 2021-07-02
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