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Story summary
- Breakwave Tanker Shipping ETF (BWET) surged about 3,600% year-to-date.
- BWET tracks oil-tanker freight costs rather than crude, according to John Murillo.
- Middle-East tanker rates rose roughly 500% year-over-year, per BWET’s September 8 report.
- Houthi rebels captured Yemen’s Mokha seaport, threatening Red Sea lanes.
- Saudi officials shut the East-West crude oil pipeline after multiple drone attacks.