VLCC spot rates have hit their highest level in six weeks following a flurry of activity in the Middle East and West Africa.
Latest rates are up 61% on the week and 19% on the month at $34,900 per day, according to Clarksons.
Year to date, however, the average is still $42,000 per day, some way behind 2023’s $51,200 per day, the brokerage said.
