Serene Cheong
Business, Fuel
An Iranian oil tanker sits anchored off the Strait of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)
Coronavirus Has Oil Traders Seeking Ships to Hoard Unsold Crude
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.
February 5, 2020
Government, Business, Fuel
A pumpjack operates as a drill rig sits on a well pad in the Bakken Formation in Williston, N.D. (Daniel Acker/Bloomberg)
US Shale’s Blows Leave Middle East Oil Sellers Staggering
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.
December 27, 2018
Business, Fuel
Bloomberg News
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.
November 2, 2016