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Conflict-related volatility in the oil market could force the hand of lines to keep freight rates in check for the sake of sustained shipments, it’s reported from London this morning.

This comes as low-sulphur bunker prices soared by $100 per ton yesterday on the back of indications from the US, UK and Europe to ban oil imports from Russia in the severest decision to date by western countries to punish Russia for its war on Ukraine.

Lines between a rock and hard place as oil price soars | Freight News