"It's Happening Again" - Traders Store Oil At Sea As Recovery Falters  | WHAT REALLY HAPPENED

"It's Happening Again" - Traders Store Oil At Sea As Recovery Falters 

Crude prices slid Thursday as the stalled global economic recovery from the virus pandemic triggers a "second wave" of demand fears and sparks renewed interest in floating storage as the oil market flips bearish.

Reuters said a "fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again."

Floating storage, onboard crude tankers, comes as traditional onshore storage nears capacity as supply outpaces demand.

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