Aframax rates took a tumble on Tuesday and are expected to fall further as Libya warned of a wave of closures on oil exports.
The Baltic Exchange assessed aframax time charter equivalent rates at $82,067 per day, a single-session drop of $5,172 that continued a slide that started on 12 April, when rates were at $90,537 per day.
On Sunday, Reuters reported Libya’s National Oil Co halted production at its El Feel oil field before warning on Monday that it could no longer fulfil contractual obligations for deliveries from its Zueitina terminal or its Al Sharara oil field.
