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Clean tanker rates soaring on global refineries upheaval as Russia sanctions loom

International Energy Forum annual report cites unprecedented restructuring in the refinery sector following record closures in 2020 and 2021 and China’s strategic shift to cut petroleum product exports

Rates for Atlantic-trading medium range tankers have climbed 178% since September 1 to surpass $50,000 per day as diesel exports from the US Gulf reach the highest level in records going back to 2010

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