Oil and Shipping MarketsBuoyant on OPEC Cuts; US Scrap Prices Set to Drop
- Crude oil hits 4-month high as market expects OPEC+ to extend output cuts
- Bullish fundamentals to keep supporting marine fuel prices
- Clean tanker freight rates expected to firm up in early March
- US ferrous scrap prices likely to drop in March
- Texas grid operator reviewing rules around utility-scale batteries