Refining boost: product tankers jump to highest levels in nearly two years

Record refining margins have propelled product tanker rates to levels approaching two-year highs.

Clarksons Platou Securities said refinery runs have been boosted in the US, Europe and Asia.

Analysts Frode Morkedal, Omar Nokta and Even Kolsgaard added: “Product carrier rates have surged to new highs over the past week, reaching levels last seen during the record-setting second quarter of 2020.”