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Iran's floating oil storage edges up 2.1pcIran’s floating storage has increased to 28.95 million barrels of oil and condensate in the past week, marking a rise of 2.1 per cent, a report said. A total of 38 tankers with stored oil were parked in sea lanes close to te More… |
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Oman plans floating storage for DME crudeOman Tank Terminal Company (OTTCO) plans to start operating a floating storage unit later this year to ease trade of crude oil futures on the Dubai Mercantile Exchange (DME), trade sources said on Tuesday. The storage will increas More… |
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Oil prices extend slide over growing oversupplyOil prices slid in early Asian trade on Wednesday after touching their lowest in nearly six years the previous session, with analysts predicting further falls as oversupply plagues the market. Oil tumbled 5 per cent to near six-ye 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… |
