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Soaring tanker rates show oil supply glut persists

Monday, June 1, 2015 - 05:50

London

FOUR months into oil's rebound from a six-year low, the tanker market is sending a clear signal that the rally is under threat.

A sudden surge in demand for supertankers drove benchmark charter rates 57 per cent higher in the two weeks through May 20. Opec (Organization of

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