Sheela Tobben and Javier Blas
Government, Business, Fuel, Logistics
Oil tankers sit anchored off the coast of Long Beach, Calif., on April 22.(Tim Rue/Bloomberg News)
Oil Traders Snap Up Tankers in Sign Second-Wave Glut Is Near
Oil tankers sit anchored off the coast of Long Beach, Calif., on April 22.(Tim Rue/Bloomberg News)
Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for monthslong charters so that they can be ready to store excess barrels if necessary.
September 11, 2020