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Crude tanker seasonality is real, Clarksons' Frode Morkedal reminds investors - TradeWinds

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Crude tanker seasonality is real, Clarksons’ Frode Morkedal reminds investors | TradeWinds

As crude tanker rates continue ticking up, Clarksons Securities wants to remind you seasonality is real.

Analysts at the investment bank cited Euronav data demonstrating that Opec production cuts boosted freight rates in seven of the past 11 fourth quarters.

“Seasonal demand factors can explain this increase,” Clarksons’ Frode Morkedal said.

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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