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NAT - Why Shares of Nordic American Tankers Popped 12.9% on Wednesday
Nordic American Tankers Limited
Shares of Nordic American Tankers (NYSE: NAT) jumped as much as 14.1% on Wednesday on speculation that tanker demand will increase this year. Shares of the oil tanker stock closed the day up 12.9%.
Tanker stocks had a strong day after Germany said it could be close to being able to cease Russian oil imports very soon. If Germany isn't importing oil from Russian pipelines, it makes sense that it would need to import more oil from overseas via tankers.