Shippers Jump on Iranian Warship Reports (GNK) (TK) (FRO) (OSG)

Following a report that two Iranian warships are making their way through the Suez Canal heading towards Syria, shippers are also making a move as crude prices have spiked midday. At last reading, March 11 WTI sweet crude contracts are up $1.15/barrel to $85.47/barrel.

Gainers include:

• Genco Shipping & Trading Ltd. (NYSE: GNK) up 2.7%;
  
  
• Teekay Corp. (NYSE: TK) up 3.9%;
  
  
• Frontline Ltd. (NYSE: FRO) up 2.3%; and
  
  
• Overseas Shipholding Group, Inc. (NYSE: OSG) up 1.9%.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Energy stocks rally as fresh U.S.-Iran attacks drive oil prices higher
• ONEOK to buy Brazos Midstream Permian assets for $4.43B
• Trex Company names Brian J. Taylor as its first chief commercial officer