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OIL: Crude in Floating Storage Holds Near August Low

OIL
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Crude held in floating storage stationary for at least seven days rose 1.1% w/w to 60.76mbbl as of Sept. 27 according to Vortexa cited by Bloomberg.

  • Floating storage is holding near the lowest since February 2020 having gradually fallen from a peak of 109m in June to a recent low of 58.53mbbl on Aug. 30.
  • Asia Pacific up 2.2% w/w to 28.51m bbl
  • West Africa up 19% w/w to 9.08m bbl
  • Middle East down 8.3% w/w to 5.38m bbl
  • Europe up 73% w/w to 4.88m bbl
  • U.S. Gulf Coast down 44% w/w to 1.25m bbl
  • North Sea down 60% w/w to 867k bbl
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Crude held in floating storage stationary for at least seven days rose 1.1% w/w to 60.76mbbl as of Sept. 27 according to Vortexa cited by Bloomberg.

  • Floating storage is holding near the lowest since February 2020 having gradually fallen from a peak of 109m in June to a recent low of 58.53mbbl on Aug. 30.
  • Asia Pacific up 2.2% w/w to 28.51m bbl
  • West Africa up 19% w/w to 9.08m bbl
  • Middle East down 8.3% w/w to 5.38m bbl
  • Europe up 73% w/w to 4.88m bbl
  • U.S. Gulf Coast down 44% w/w to 1.25m bbl
  • North Sea down 60% w/w to 867k bbl