think4photop/iStock via Getty Images Recap Our bull thesis on Scorpio Tankers (NYSE:STNG) is still at play. Product rates remain elevated due to increasing ton-mile demand following the European Union ("EU") ban against Russia and the Red Sea Crisis. Dislocated refineries from Europe to other parts of the world are also expected to structurally drive ton-mile demand as tankers travel at longer distances. With more FCF, STNG has been deleveraging its balance sheet, reducing the cash break-even level, whi ...