91ÊÓƵ

A review of shipping signals have confirmed only two commercial transits in the past 24 hours, the Joint Maritime Information Center said in a note on March 6.

Oil traders and sellers are making more inquiries for supertankers to hoard crude at sea in the latest indication of the crushing impact the coronavirus is having on demand in the world’s biggest importer.

The U.S. oil industry is delivering a one-two punch to Middle East producers already reeling from a collapse in prices. A tussle is playing out in the market for so-called light oils, which have a lower sulfur content and are less dense than heavier varieties.

As crude prices continue to get dragged down by a global glut that shows no signs of abating, oil traders may find some profit by going to sea.