Wells Fargo Securities trimmed its outlook for tanker owner earnings and share valuations on warnings that the uncertainties presented by global news flow may have a greater-than-expected impact on the market.
Analyst Michael Webber, who covers shipping stocks for the bank, said that the combination of the rise of Donald Trump as the Republican nominee to the White House, the Brexit vote, uncertainty around Italy's banks and the coup attempt in Turkey could create "meaningful tail risk" for crude demand expectations in the second half of the year.
The
