The Tanker Shipping Trade Keeps Sailing π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by Eric Balchunas.
The Breakwave Tanker Shipping ETF ($BWET) closed at new all-time highs while posting its best single-day gain on record.
The ETF traded at record volume today and is now up +289% year-to-date and roughly +605% over the past year.
$BWET is a financial proxy for global crude shipping demand, and todayβs action suggests tanker utilization remains elevated.
The Takeaway: Historic strength in tanker shipping continues as the ETF extends to new record highs.
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