Why DHT Holdings Stock Dropped Today
Yahoo Finance ·
DHT Holdings ( DHT -2.67% ) stock is having a great September. Shares of the oil tanker operator, which owns 22 Very Large Crude Carrier supertankers (VLCCs), gained as much as 18% in September through Friday's close. DHT is giving back some of those gains today -- down 3% through 10:20 a.m. ET. But why was DHT stock up in the first place? Tanker rates are the reason. As StreetInsider.com reports, the cost of chartering a Very Large Crude Carrier (VLCC) supertanker passed $1 million per day yesterday. That's up 5 times from what chartering a supertanker cost before the Iran war began Feb. 28.
DYAX Investor Sentiment
Bullish (Long) 46% · Bearish (Short) 54%
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