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Oil

Coronavirus lockdowns put the spotlight on crude oil storage

Commodities | Agriculture | Grains | Energy | Electric Power | LNG | Natural Gas | Oil | Crude Oil | Metals | Coronavirus

Market Movers Americas, June 29-July 3: Rig count rises, but pandemic continues to pressure US commodities

Oil

Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Coal | Emissions | Electric Power | Renewables | Oil | Crude Oil

Hydrogen, CCS to feature at July 9 IEA summit: Birol

Listen: Coronavirus lockdowns put the spotlight on crude oil storage

US crude storage quickly became a major issue at the crux of the coronavirus pandemic lockdowns, as global markets struggled to find enough places to stash oil amid the oversupply and decreased demand.

That created a huge incentive for traders and producers to store their barrels instead of selling them on a prompt, physical basis, which overwhelmed storage availability.

Ernie Barsamian, CEO of the Tank Tiger, talks with Laura Huchzermeyer, managing editor of the Americas crude team at S&P Global Platts, about the changes and challenges of the storage market.

Platts Live is a virtual alternative to our face-to-face events and forums, featuring content on the coronavirus outbreak. It has been created to allow our customers to continue to engage with us, and each other.