Frontline Benefits from Strong Surge in Freight Rates for Crude Oil Tankers — Stock on the Verge of Breaking Out!

Frontline owns 80 tankers and specializes particularly in the transportation of oil and gas. On November 21, the company published its Q3 results. Although it fell short of expectations, the company anticipates a significant increase in shipping rates for Q4. This could lead to the current very modest estimates being greatly exceeded in the next quarter. On November 24, Reuters reported that the rates for very large crude carriers, which can transport up to two million barrels from the Middle East to China, surged to nearly $137,000 per day by...