[SINGAPORE] Oil majors and traders are scrambling to book supertankers to try and divert a flood of American crude to Asia, betting the region is the best place to store the surplus while the...
[LONDON] Royal Dutch Shell has booked a supertanker to store 2 million barrels of oil at sea to park mounting global stocks, shipping sources said on Wednesday.
[SINGAPORE] Oil's plunge has revived memories of the 2008-09 recession, when traders snapped up dozens of tankers to park unwanted barrels at sea.
[LONDON] Supertankers hauling oil on some of the world's longest trade routes had already been enjoying a massive windfall. Then came a reported attack on an Iranian ship.