A stalled global economic recovery from the coronavirus pandemic is leading to a new build-up in global oil supplies, pushing traders to store millions of barrels of crude oil and refined fuels at sea until hoped-for better days ahead.
Reuters
Trading house Trafigura has chartered at least five of the largest tankers for storing oil, according to trading sources and shipping data, as Vitol, Litasco and Glencore also booked large tankers in recent days.
A stalled global economic recovery from the coronavirus pandemic is leading to a new build-up in global oil supplies, pushing traders to store millions of barrels of crude oil and refined fuels at sea until hoped-for better days ahead.
First Published on Sep 9, 2020 08:34 pm
