News Headlines:
OIL DAYBOOK EUROPE: BP Sees Pre-Virus Demand Return in 3Q 2022 (Bloomberg)
Global oil consumption is expected to return to pre-pandemic levels in the third quarter of 2022, with Asia continuing as the center for oil-product demand growth, according to BP Plc. Stockpiles of crude and most products returned to normal levels by June following supply restraint from OPEC+ and an economic recovery.
* OIL FUTURES: Brent Oil Conquers $80 as Global Energy Crunch Rattles Markets
Benchmark Tanker Rates Strengthen; Cross-Med Routes Advance (Bloomberg)
Freight rates on the benchmark oil tanker route from the Middle East to China rose to WS 39.57 on Monday, the highest since January, Baltic Exchange data show.
* Equates to daily earnings of $2,199, the highest since late May, compared with $1,963 on Friday. Earnings were in negative territory for most of the summer.
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FIS Tankers Daily Report 2021-09-28
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