While predictable as can be, it was still an ugly Monday for US-listed tanker stocks as investors baulked at further adverse crude-supply news from Opec+.
Tanker stocks tumbled between 3% and 8% over the trading day in New York after the energy cartel elected to extend a previous 1.66m barrels-per-day supply cut for a further 12 months, and Saudi Arabia pledged a unilateral 1m bpd cut from its current quota.
