# Traders Scout For Tankers To Store Diesel As Virus

> Oil traders are chartering supertankers to store 10ppm diesel for up to six months as they prepare for weaker European demand under renewed COVID-19 restrictions. Diesel floating storage could rise again, with Singapore gasoil in contango since late July.

- Date: 2020-10-30 · published 2020-10-30T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/50828-traders-scout-for-tankers-to-store-diesel-as-virus
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Floating storage adds to inventories and signals softer demand, which pressures diesel prices and freight-related fuel costs.

## Read by commodity

- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2022-07-08 | [Global diesel demand starts to slacken as economy falters \| Reuters](https://feedsoft.ai/events/11245-global-diesel-demand-starts-to-slacken-as-economy-falters-reuters.md) | -0.3% | -10.3% |
| DIESEL | 2022-12-09 | [U.S. diesel stocks start to normalise as economy slows](https://feedsoft.ai/events/38425-u-s-diesel-stocks-start-to-normalise-as-economy-slows.md) | +14.5% | +6.9% |
| DIESEL | 2020-03-23 | [U.S. diesel cash prices latest to slump from coronavirus fallout - Oil & Gas 360](https://feedsoft.ai/events/54334-u-s-diesel-cash-prices-latest-to-slump-from-coronavirus-fallout-oil-and-gas-360.md) | +6.2% | -11.8% |
| DIESEL | 2020-01-28 | [Diesel Fuel Market Stable as IMO Mandate Takes Hold - TT](https://feedsoft.ai/events/55257-diesel-fuel-market-stable-as-imo-mandate-takes-hold-tt.md) | -5.8% | -6.1% |
| DIESEL | 2025-04-30 | [Diesel Under Fire From Trump's Trade War \| Energy Intelligence](https://feedsoft.ai/events/25303-diesel-under-fire-from-trump-s-trade-war-energy-intelligence.md) | -5.0% | -1.5% |

## Sources

- marinelink.com: https://www.marinelink.com/news/traders-scout-tankers-store-diesel-virus-482861

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