# Oil optimism unwinding market's mad dash for storage - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> 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.

- Date: 2021-03-02 · published 2021-03-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/48284-oil-optimism-unwinding-market-s-mad-dash-for-storage-energy-news-top-headlines
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

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.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Sources

- energynow.com: https://energynow.com/2021/03/oil-optimism-unwinding-markets-mad-dash-for-storage/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.