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Saudi riyal hits record low, breaches 1000-levelThe Saudi Arabian riyal hit a record low in the forwards market on Tuesday, breaching the key 1000-point mark as a fresh slip in oil prices raised fears that the kingdom will eventually scrap or loosen its currency peg to the US dollar. More… |
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Record low VLCCs used for floating storageA total of 29 very large crude carriers (VLCCs) were in use for temporary floating storage at the end of July, said ship broker EA Gibson citing data. 'The 29 VLCCs presently employed in temporary floating storage is the lowest number More… |
