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Lubes'N'Greases reports that flooding risk is a growing obstacle to river transport of base oils in the Midwest, South and East US as flood season approaches. The article cites Army Corps data that 2.3 billion tons of cargo, about 22% petroleum products, move on US waterways each year.
Flood-related delays on the Mississippi and other rivers can slow barge movements of bulk goods, which can widen regional basis and lift barge freight costs during high-water periods.
lubesngreases.comMar 25, 2020Not 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.
