Tankers sailing to and from Qatar have some leeway by Abu Dhabi

The Abu Dhabi fuel port authorities have lessened their restriction on oil tankers going to and from Qatar, this is despite the current political  turmoil in the Persian Gulf; in addition, Abu Dhabi Petroleum Ports Authority have issued a new circulars on Wednesday which removes previous restrictions on non-Qatar owned, flagged or operated vessels sailing to and from Qatar.

In addition, there had been no official notification on halting the co-loading of crude cargoes, as what a Middle-East industry source said; this effectively allows-co-loading of crude cargoes. In relevance to this, the ban on vessels carrying the Qatari flag and vessels owned and operated by Qatar is still in place; however, given that there are few Qatari-flagged or owned vessels, this is unlikely to have a big impact on the market.

Sterling hits two-week high, Investors bets on May’s win in Britain’s general election

With investors progressively taking the view that the British Prime Minister Theresa May’s Conservative party will win a majority in Britain’s general election on Thursday. As a result, the Sterling climbed to a two-week high against the U.S. dollar on Wednesday evening.

The Sterling was traded at $1.2970 by 1445 GMT and was up 0.4% throughout the day closing at $1.2960. The pound has gained as much as 4% since Prime Minister May called a snap election seven weeks ago, as polls showed a possibility of a landslide victory for her Conservative party that would give May a stronger hand in Britain’s negotiations on leaving the European Union.

Versus the European currency, the pound went higher by 0.6% closing at 86.80 pence per euro, the currency’s highest point since May 30.

The Britain’s Conservative Party is generally seen by investors to be business-friendly.       

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