In a recent client briefing an equity analyst at Morgan Stanley, Fotis Giannakoulis, pointed out that this bodes well for New York-quoted operators of crude carriers.
“After a weak third quarter, following excess refinery production in the second quarter, seasonal crude demand and healthy refinery margins should support a notable seasonal rise in crude runs,” the researcher said.
Despite persistent turbulence in the tanker segment Giannakoulis noted Bret margins are improving and, citing recent conversations with Morgan energy analysts, argued that crude demand will gain steam in the home stretch.
“Global
