Aframax rates have strengthened in the US Gulf and Caribbean in the wake of Hurricane Ida, but MR markets have failed to retain earlier gains amid severe tonnage oversupply.

The Category 4 storm made landfall in Louisiana on 29 August, forcing the closures of oil refineries and upstream production fields in the US Gulf.

While energy firms have gradually been bringing those facilities back online in recent days, observers believe it could be weeks before normal operations are restored.