Spot earnings of VLCCs have jumped on a frenzy of fixing activity in the Middle East, prompting talks that seasonal weakness is ending earlier than usual this year.

Based on Clarksons Platou Securities’ assessments, VLCC earnings has risen to $39,200 per day as of Monday, near its year-to-date high, compared with $30,500 last Thursday.

“Surging activity out of the Middle East Gulf made VLCC earnings jump,” the brokerage said. “Rates in the segment have surpassed the five-year average by $8,000 per day.”