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Storage contracts for refined products are unwinding as crude and product prices rise and demand optimism grows. Stored product volumes on tankers fell 77% from their May 2020 peak to 19.2 million barrels at the end of February.
Fewer barrels in floating storage means more product reaching the market, which weighs on near-term fuel prices and reduces the cost pressure on feed logistics.
energynow.comMar 2, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
