Energy Shippers Report Their Quarters Amid Ongoing Tightness in the Global Tanker Market

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HOUSTON, Nov. 11, 2026 /PRNewswire/ -- Oil Market Daily News Commentary - Crude oil futures were higher on Wednesday morning. As of 11:34 a.m. ET, the December NYMEX West Texas…

HOUSTON, Nov. 11, 2026 /PRNewswire/ -- Oil Market Daily News Commentary - Crude oil futures were higher on Wednesday morning. As of 11:34 a.m. ET, the December NYMEX West Texas Intermediate contract was at $88.26 a barrel, up $2.22, or 2.58%, from Tuesday's settlement of $86.04, and the January ICE Brent contract was at $94.04, up $2.55, or 2.79%, from Tuesday's settlement of $91.49. Moving oil, refined fuels and gas by water is the business of five companies that have reported quarterly results over the past two weeks, covering product tankers, gas carriers, inland barges and LNG infrastructure.

On Nov. 10, the United Kingdom Maritime Trade Operations (UKMTO) posted Warning 202-26, saying it had received a report of an incident involving a tanker in the Strait of Hormuz and that the status of crew, damage assessment and environmental impact were unknown at the time of the report. UKMTO advised vessels to transit with caution.

A week earlier, on Nov. 4, the International Energy Agency, the International Energy Forum and OPEC held a joint technical workshop on maritime energy flows, shipping and insurance. According to an OPEC press release, the workshop came at the request of a consultation meeting of ministers of the Declaration of Cooperation held in Riyadh on Oct. 12, at which ministers expressed concern about elevated shipping and insurance costs. OPEC said its Secretary General, Haitham Al Ghais, noted that shipping and insurance costs in 2026 have increased significantly to a level of more than one-third of the underlying value of crude oil.

The U.S. Energy Information Administration, in its November Short-Term Energy Outlook released Tuesday, listed constrained shipping capacity and higher transportation costs among the factors it said tightened supply in October. The agency said that in its forecast, U.S.

TORM plc (Nasdaq: TRMD) reported in its third quarter 2026 results, released Nov.

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