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Floating Crude Storage Falls 10% Last Week

OIL

The amount of crude oil held around the world on tankers that have been stationary for at last seven days fell by 9.9% on the week to 69.77mn barrels as of 15 March, Vortexa data showed.

  • Asia Pacific down 13% w/w to 33.33m bbl; lowest since October
  • Middle East down 30% w/w to 8.69m bbl
  • Europe up 56% w/w to 7.21m bbl; highest since December
  • West Africa up 13% w/w to 6.11m bbl
  • U.S. Gulf Coast down 44% w/w to 1.26m bbl

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