In early November, Joe Biden was announced as the new president following the U.S Presidential Election, then the following Monday (9 November), we were surprised by the news of new covid-19 vaccination breakthrough, causing oil price to skyrocket. (by Ship & Bunkers).
Compared to 2 November, the VLSFO market shot up by an average of 50-60$ per metric ton across all major ports in the world.
Here are some further articles with other interesting analysis to follow:
We’ll continue to keep you updated on these developments in future blogs. For further information or if you have any questions, please contact copemer@copemer.com