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Global Crude Floating +4.2% Last Week

OIL

Crude oil floating storage rose to 90.50m bbl as of July 29, rising 4.2% in the last week.

  • Middle East floating storage was up 28% w/w to 13.10m bbl - the highest since October 2017.
  • The US Gulf Coast was up by 575% w/w to 3.66m bbl, the highest since April 2021.
  • The North Sea was up 74% w/w to 2.37m bbl.

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