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Floating Crude at Highest Since October 2020

OIL

Global crude floating storage of 129mn bbls is the highest since October 2020 according to Vortexa figures, pushed higher in recent weeks by Saudi floating volumes off Egypt that have amounted to over 20mn bbls as well as stringent Chinese customs checks.

  • Overall floating storage is increasing but oil in transit is falling according to Vortexa, aided by OPEC+ production cuts.


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