Crude Prices to Drop

Crude Supertanker Rates Collapse As VLCC ‘Traffic’ To China Lowest In 13 Months

Tyler Durden on 10/31/2015

A few days ago we warned, confirming Goldman Sachs’ earlier analysis that the world was running out of space to store crude distillate products, that China was running out of storage space for crude oil … And then something very unexpected happened: the world quietly hit a tipping point when, according to Reuters, China ran out of space to store oil. …

And just like that China has, if only for the time being, run out of storage facilities. As we concluded previously,

How long until this translates into an actual drop in oil purchases, and even more importantly, how long until the U.S. itself finds itself in a comparable “overflow” bottleneck, leading to the next, and sharpest yet, drop in oil prices?

About icliks

Biding my time in central ms ... yours too, if ur reading this.
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