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Forced to Store Fuel at Sea, Oil Refiners at Breaking Point

By Jack Wittels, Firat Kayakiran and Javier Blas (Bloomberg) — Oil refiners are hunting for vessels to store jet-fuel and gasoline that nobody is buying, sending freight rates sharply higher, an indication that the global refining system is fast approaching a breaking point. Until now refiners had mostly been storing unwanted product on site, but the […]

WP_Post Object ( [ID] => 224326 [post_author] => 21 [post_date] => 2020-04-23 15:21:59 [post_date_gmt] => 2020-04-23 15:21:59 [post_content] => oil tanker loadingBy Jack Wittels, Firat Kayakiran and Javier Blas (Bloomberg) — Oil refiners are hunting for vessels to store jet-fuel and gasoline that nobody is buying, sending freight rates sharply higher, an indication that the global refining system is fast approaching a breaking point. Until now refiners had mostly been storing unwanted product on site, but the […] [post_title] => Forced to Store Fuel at Sea, Oil Refiners at Breaking Point [post_excerpt] => By Jack Wittels, Firat Kayakiran and Javier Blas (Bloomberg) — Oil refiners are hunting for vessels to store jet-fuel and gasoline that nobody is buying, sending freight rates sharply higher, an indication that the global refining system is fast ... [post_status] => publish [comment_status] => open [ping_status] => closed [post_password] => [post_name] => forced-to-store-fuel-at-sea-oil-refiners-at-breaking-point [to_ping] => [pinged] => [post_modified] => 2020-04-23 15:21:59 [post_modified_gmt] => 2020-04-23 15:21:59 [post_content_filtered] => [post_parent] => 0 [guid] => http://gcaptain.com/?p=139677 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw )