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Tankers: A tragedy in two acts

There’s still little reason for hope.

During January 2021, oil prices have risen to seven-year heights as traders gamble that demand for crude oil could outstrip supply later this year. Both Brent and WTI have added nearly 15% in January. Plenty of oil market analysts are forecasting that the prices will hit $100 per barrel unless or until oil supplies increase. Their bets are based on an assumption that the global economy will continue to rebound from the pandemic during 2022.

As swathes of the global population remain in var...

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