Jun. 14 at 3:57 PM
$NAT is not really trading oil price. It’s trading shipping demand.
Even if crude oil drops under
$90, tanker stocks can still go up because what matters is how far and how complicated oil needs to be shipped.
When routes get longer or risk goes up, there are fewer “available ships” in practice, so shipping rates rise.
So simple idea:
Oil price down doesn’t matter much
Shipping disruption = good for tankers like
$NAT