Turkey’s oil tanker backlog starting to clear

A backlog of tankers waiting to haul oil through Turkey’s vital shipping straits appeared to start clearing, Bloomberg reported.

One shipping official with knowledge of the situation said that previously blocked tankers are now being allowed through.

On Saturday, Turkey distributed a sample letter to insurers that it would find acceptable as proof of cover, according to the shipping official and a port-agent report. The letter was similar to versions that had already been submitted to Turkish authorities, creating optimism that a solution had been found, the person said.