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Supertanker Rates Soar as Buyers Scramble to Replace Russian Oil
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Why This Matters
Supertanker freight futures surged due to US sanctions against Russian oil firms, leading to a rush to replace Russian barrels, with the benchmark route seeing a 16% increase in just two days.
Market Impact
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Bullish
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Article Context
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The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels. The front-month supertanker contracts on the route Middle East to China, the benchmark route, jumped by 16% on Thursday, to the highest level in nearly two years, according to data from the Baltic Exchange data cited by Bloomberg. “We anticipate the rush for replacement crudes will be larger and more sustained because of the exhaustive list of Russian producers under…
Original article published by
OilPrice.com
on October 24, 2025.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.