The Crude Report: Texas’ cold snap boosts US Aframax spot, futures prices
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Aframax tonnage has been tight in the Atlantic basin thanks to heavy demand for fuel oil loadings in Europe, but demand grew even more this past week as charterers rushed to secure vessels for US loadings in response to Texas’ unusual winter weather. In this episode of The Crude Report, Americas Freight editor Nicholas Watt and freight reporter Liz Ramanand discuss the market's recent 30% surge in rates and the effect the spot market is having on futures prices.
