Serene Cheong

Business, Fuel

Coronavirus Has Oil Traders Seeking Ships to Hoard Unsold Crude

An Iranian oil tanker sits anchored off the Strait of Gibraltar in July 2019. An Iranian oil tanker sits anchored off the Strait of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Oil traders and sellers are making more inquiries for supertankers to hoard crude at sea in the latest indication of the crushing impact the coronavirus is having on demand in the world’s biggest importer.

Serene Cheong | Bloomberg News
February 5, 2020
Government, Business, Fuel

US Shale’s Blows Leave Middle East Oil Sellers Staggering

oil drilling rig A pumpjack operates as a drill rig sits on a well pad in the Bakken Formation in Williston, N.D. (Daniel Acker/Bloomberg)

The U.S. oil industry is delivering a one-two punch to Middle East producers already reeling from a collapse in prices. A tussle is playing out in the market for so-called light oils, which have a lower sulfur content and are less dense than heavier varieties.

Serene Cheong | Bloomberg News
December 27, 2018
Business, Fuel

Oil Traders May Find Profit at Sea Again as Prices Sink

Bloomberg News

As crude prices continue to get dragged down by a global glut that shows no signs of abating, oil traders may find some profit by going to sea.

Serene Cheong | Bloomberg News
Sharon Cho and Alex Longley | Bloomberg News
November 2, 2016