International Seaways is trading at $121.66, up +4.03%, with elevated tanker rates amid Strait of Hormuz shipping disruption the strongest relevant backdrop; no new company announcement explaining the October 8 move surfaced.
- Reuters reported increased attacks on Gulf shipping, raising costs and risks for tanker cargoes and crews.
- B. Riley’s $140 price target and Buy rating were reported earlier in the week, not as a new October 8 catalyst; the broad market was weaker.