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After a relatively strong end to the week the oil market has started the week under pressure. ICE Brent is trading back below US$89/bbl at the time of writing. Geopolitical risks appear to have eased considerably, removing some of the risk premium priced into the market. However, there are still signs of tightening in the physical market with prompt ...
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A shadow-fleet oil tanker that crashed in Denmark’s vital straits produced a set of insurance documents that weren’t valid, a stark example of how there’s little clarity about who would pay the bill if such a ship had a major disaster. The Andromeda Star, an 820-foot vessel capable of transporting about 730,000 barrels of oil, was involved in a collision ...