Why Oil Freight Is the Leveraged Play You’re Missing Out
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Shipping costs are surging, and may not have reached their peak yet. With global oil flows under pressure and strategic choke points facing geopolitical threats, tanker freight rates have undergone a massive increase, making BWET a high-volatility proxy for the wider energy crisis.
Few things entice speculators more than a chart seemingly in the middle of going parabolic. The Amplify Breakwave Tanker Shipping ETF (BWET) has been setting up such a chart. The fund effectively tracks crude oil tanker freight rates, and it has soared over 428% YTD. Even after that massive run, the setup suggests that we could still have some gas left in the tank (no pun intended).