Free Trial

Sanctioned Crude Barrels Building off Singapore and Malaysia

OIL

(MNI LONDON) - Crude in floating storage off Singapore and Malaysia climbed to about 21.5 million barrels this week, the highest since early February, according to Kpler.

  • Among the volume of crude oil and condensate stored in tankers, 19 million barrels, or around 89%, was observed to be from Iran and Venezuela.
  • China has been pulling in record volumes of Iranian oil via Malaysia in recent months to try and obscure its original destination.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.