Down 24% Today, Up 3,800% YTD: The Wild Oil-Shipping Trade Behind This ETF
The BWET ETF plunged 24% Tuesday but remains up over 3,500% YTD as soaring tanker rates and a crude-shipping crunch reshape oil markets.
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Strait of Hormuz, Red Sea Disruptions Send BWET ETF to All-Time Highs as Tanker Rates Surge
Hormuz and Red Sea disruptions are driving tanker freight rates higher, sending BWET ETF to all-time highs as shipping risks intensify.
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'Tanker Shortage Sends Oil-Shipping Rates Soaring' - WSJ
https://www.wsj.com/logistics-report/tanker-shortage-sends-oil-shipping-rates-soaring-d526cdb7
Shares of marine energy transport companies are trading lower amid continuing oil price declines and optimism for U.S.-Iran progress on reopening the Strait of Hormuz, both of which will contribute to declining tanker charter day rates going forward.