Global Crude Freight Rates Rise More Than $20/bbl Year Over Year, Goldman Says
Goldman Sachs energy analysts say average global crude-oil freight rates recently exceeded levels from the same time last year by more than $20/bbl. They said the increase could reduce refiners’ overall crude demand or shift purchases toward closer suppliers.
The average global crude-oil freight rate has recently surged to more than $20/bbl higher than the level during the same time last year, a move that could reduce refiners' overall demand for crude or skew it toward more closely located suppliers, Goldman Sachs energy analysts said.The investment ba…