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OIL: Crude in Floating Storage Rebounds 24% in Week to Oct. 11

OIL
BulletEnergy BulletsCommodities

Crude held in floating storage stationary for at least seven days rose 24% w/w to 58.58mbbl as of Oct. 11 according to Vortexa cited by Bloomberg.

  • The increase reversed much of the decline seen the previous week when floating storage fell to the lowest since September 2019 at 47.14mbbl. Volumes have fallen from a peak of 110m in June.
    • Asia Pacific up 37% w/w to 24.89m bbl
    • West Africa up 15% w/w to 10.22m bbl
    • Middle East up 6.8% w/w to 7.94m bbl
    • Europe up 83% w/w to 5.28m bbl
    • U.S. Gulf Coast up 10% w/w to 1.78m bbl
    • North Sea down 23% w/w to 730k bbl
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Crude held in floating storage stationary for at least seven days rose 24% w/w to 58.58mbbl as of Oct. 11 according to Vortexa cited by Bloomberg.

  • The increase reversed much of the decline seen the previous week when floating storage fell to the lowest since September 2019 at 47.14mbbl. Volumes have fallen from a peak of 110m in June.
    • Asia Pacific up 37% w/w to 24.89m bbl
    • West Africa up 15% w/w to 10.22m bbl
    • Middle East up 6.8% w/w to 7.94m bbl
    • Europe up 83% w/w to 5.28m bbl
    • U.S. Gulf Coast up 10% w/w to 1.78m bbl
    • North Sea down 23% w/w to 730k bbl