Oil Tankers Anchored at Sea Storing Crude

Discussion in 'Commodity Futures' started by kmiklas, Apr 26, 2020.

  1. bone

    bone

    You can’t burn crude oil in your car. Refiners have cut way back on production because demand is on life support.

    Both May and June Unleaded Gasoline are trading comfortably above the March and April lows.

     
    #21     Apr 27, 2020
  2. neke

    neke

    Or a tsunami. Massive oil spillage.
     
    #22     Apr 27, 2020
  3. Overnight

    Overnight

    Welp, that sure is one way to get rid of unwanted oil. Act-of-God insurance play.
     
    #23     Apr 27, 2020
  4. kmiklas

    kmiklas

    Betcha $1 that there's been at least one spill already that we haven't heard about.
     
    #24     Apr 27, 2020
  5. upload_2020-4-28_10-58-59.png

    Definitely more idle tankers sitting at full draught parked to the east and west. We had a nice rain storm blow through yesterday, but we are generally isolated from tsunamis and storms don't get too terrible.
     
    #25     Apr 27, 2020
    yc47ib and kmiklas like this.
  6. easymon1

    easymon1

    the tanker play
    cued...
     
    #26     May 1, 2020
  7. SunTrader

    SunTrader

    Quite often a gas station gets in a tussle with their corporate partner and wanting out of the current contract or to get a better deal elsewhere with another major brand.

    So what they do is charge a much higher markup than surrounding stations - so their gas sales collapse. While hopefully convenience store/repairs/etc part of business carries on.

    Then it is just a matter of who blinks first, retailer or wholesaler.
     
    #27     May 2, 2020
  8. SunTrader

    SunTrader

    How about $400,000 ............... A DAY!!!!!!!

    For some of them.
     
    #28     May 2, 2020
    kmiklas likes this.
  9. S2007S

    S2007S


    I thought the number was about 1/2 that per day...
     
    #29     May 2, 2020
  10. SunTrader

    SunTrader

    That is why I said for some.

    But it all depends on size, place in the world it would be available and how long a timecharter, etc.
     
    #30     May 2, 2020