Crude oil prices are rising and could eclipse $100 per barrel should the Ukraine conflict escalate further, injecting further uncertainty into the tanker market, Maritime Strategies International (MSI) said.
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TradeWinds reporters across the globe are covering the shipping implications on the Russia-Ukraine crisis.
The consultancy’s oil and tanker director, Tim Smith, said on Tuesday a further Russian push into Ukrainian territory would be met with “sanctions, import embargoes and disruptions to trade routes” pushing oil into three-figure territory.
