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OIL: Crude Floating At Least Seven Days Rises 4.9%

OIL
BulletEnergy BulletsCommodities

Crude held in floating storage stationary for at least seven days rose 4.9% w/w to 84.15m bbl as of March 7, according to Vortexa data cited by Bloomberg. 

  • The increase follows a 6.9% rise seen the previous week and levels have now risen about the recent high of 76m bbl seen at the end of January to the highest level since August 2024.
  • Asia Pacific up 22% w/w to 47.26m bbl, the highest since December 2023.
  • Middle East up 59% w/w to 12.87m bbl, the highest since November 2024.
  • West Africa up 18% w/w to 7.78m bbl.
  • Europe down 26% to 6.63m bbl.
  • North Sea down 95% w/w to 0.19m bbl, the lowest since October 2024.
  • US Gulf Coast down 90% w/w to 0.18m bbl.  
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Crude held in floating storage stationary for at least seven days rose 4.9% w/w to 84.15m bbl as of March 7, according to Vortexa data cited by Bloomberg. 

  • The increase follows a 6.9% rise seen the previous week and levels have now risen about the recent high of 76m bbl seen at the end of January to the highest level since August 2024.
  • Asia Pacific up 22% w/w to 47.26m bbl, the highest since December 2023.
  • Middle East up 59% w/w to 12.87m bbl, the highest since November 2024.
  • West Africa up 18% w/w to 7.78m bbl.
  • Europe down 26% to 6.63m bbl.
  • North Sea down 95% w/w to 0.19m bbl, the lowest since October 2024.
  • US Gulf Coast down 90% w/w to 0.18m bbl.