The Oslo Stock Exchange opened with modest gains on Tuesday, driven by positive sentiment in the shipping sector.
The main index rose 0.23% shortly after the opening bell, buoyed by news from major tanker operator Frontline.
Frontline has secured a new long-term charter for one of its Very Large Crude Carriers (VLCCs), a move that reinforces the company's revenue visibility amid fluctuating spot rates.
The deal underscores the strategic shift among major tanker owners toward securing stable cash flows through time charters rather than relying solely on the volatile spot market.
In energy markets, Brent crude spot prices traded at $78.90 per barrel, down approximately $1.10 from Tuesday's close.
The slight pullback in oil prices reflects ongoing supply concerns and shifting demand expectations, though the decline was contained as traders assessed the latest shipping developments.