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Crude in Floating Storage Drops 17% Last Week

OIL

The amount of crude oil held around the world on tankers that have been stationary for at least seven days fell sharply in the past week by 17% to 65.30m bbl as of 5 April, Vortexa data showed.

  • Asia Pacific down 31% w/w to 28.06m bbl; lowest since February 2020
  • Europe up 3.3% w/w to 11.94m bbl; highest since May 2023
  • Middle East up 46% w/w to 7.48m bbl
  • West Africa up 48% w/w to 7.33m bbl
  • North Sea up 269% w/w to 2.16m bbl
  • U.S. Gulf Coast down 52% w/w to 922.00k bbl

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