The implications of extra crude coming onto the market after last week’s oil energy report showed a rise in crude oil and Friday’s stronger than expected employment report boosting the dollar has to leave one wondering about the market direction for the price of crude oil. Below is an excerpt from Bloomberg that covers the story.
A fifth of supertankers being used to store oil are scheduled to deliver their cargoes, according to ICAP Shipping, a unit of ICAP Plc (IAPLY.PK), the world’s biggest broker of deals between banks.
A so-called notice of redelivery was issued for seven of 33 supertankers storing crude, Simon Chattrabhuti, a London-based analyst at ICAP, said by e-mail today. There “may well be others storing or that have given notice,” he said. Two new carriers were hired to store oil, the analyst said. (more)
No comments:
Post a Comment