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TNK - Why Oil Tanker Stocks Are the Hottest Spot in Energy Today
Teekay Tankers Ltd.
At the end of last week, investors began bidding up oil tanker stocks, highlighted by a big jump in Teekay Tankers(NYSE: TNK), Nordic American Tankers(NYSE: NAT), Frontline(NYSE: FRO), and Scorpio Tankers(NYSE: STNG) on Friday. But the move seems a little odd, given that oil prices have been in decline over that time.
Despite oil price movements, there is reason for traders to be bullish on tanker stocks right now. But those bullish indicators could take a turn for the worst very quickly.