Posted by Keyman188 > 2020-04-21 18:04 | Report Abuse

World’s Biggest Oil Storage Firm Says Almost All Space Sold

April 21, 2020, 3:44 PM GMT+8Updated on April 21, 2020, 5:44 PM GMT+8


The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut that Covid-19 has created.

“The available capacity on the oil side is almost completely sold out for our terminals,” Gerard Paulides, the chief financial officer of Rotterdam-based Royal Vopak NV, said in an interview. “For Vopak, worldwide available capacity that is not in maintenance is almost all gone and from what I hear elsewhere in the world we’re not the only ones.”

The firm is racing to complete maintenance to free up whatever space it can. Worldwide oil demand has collapsed at an unprecedented speed because the coronavirus has caused a mass halt to global transportation systems and hurt economies. With producers failing to reduce output at the same pace, an oversupply of crude and fuels has quickly emerged.

U.S. crude oil futures for May moved into negative territory on Monday -- meaning traders were effectively willing to pay people to take barrels. A large part of that was because of concerns about space to store.

From Indonesia to Mexico, companies are scouring the market for places to store oil and refined fuels, often parking unwanted supplies on tankers because shore-based facilities are full. In the North Sea, a handful of vessels have been idling with gasoline and jet fuel on board for days now.

“It’s extremely tough to find something in this market,” said Krien van Beek, a storage broker at ODIN-RVB Tank Storage Solutions, discussing the global situation for fuels. Companies that have their own tanks may not have filled them, but there are now barely any left for third-party hire, she said.


##https://www.bloomberg.com/news/articles/2020-04-21/world-s-biggest-oil-storage-firm-says-almost-all-space-is-sold?srnd=premium-asia

Posted by Keyman188 > 2020-04-21 18:10 | Report Abuse

Brent Crude Oil big dropped again by 20% ++...

Now cheapest @ $ 20.73 (-$5.30)......Big sell off tomorrow again...

Posted by signalmw > 2020-04-21 18:34 | Report Abuse

Just now USD 18

Posted by signalmw > 2020-04-21 18:35 | Report Abuse

Very strong. Tak pecah 0.135

Posted by signalmw > 2020-04-21 18:35 | Report Abuse

Pak tua mana

Posted by i3lurker > 2020-04-21 18:39 | Report Abuse

paktua counting his money

Posted by KAQ4468 > 2020-04-21 18:45 | Report Abuse

Peewwitttt


Duit berkepuk tu

Posted by Investsucess Trader > 2020-04-21 18:49 | Report Abuse

Anyone who thinks oil has hit a floor is ‘playing with fire’ — yes, prices can go lower
PUBLISHED TUE, APR 21 20205:33 AM EDTUPDATED MOMENTS AGO

Posted by signalmw > 2020-04-21 19:11 | Report Abuse

Not get -. 0.2?

Posted by Mabel > 2020-04-21 19:38 | Report Abuse

Aiyaaaa.. 1 cent drop Mah..

Nothing to cry about..relax..

Meow

Posted by ivanlau > 2020-04-21 21:11 | Report Abuse

brent oil now only usd 20.02 per barrel........ tomorrow all oils stock gap down.......super bear for oils stock ....... tp 0.14 cents

Posted by Ziko Ro > 2020-04-21 21:29 | Report Abuse

Nightmare tomorrow

Posted by Investsucess Trader > 2020-04-21 21:41 | Report Abuse

Thats the beauty of trading in stocks market, opportunities arises....

Posted by hotmission > 2020-04-21 22:04 | Report Abuse

Congrats those run today

Posted by limitupupup > 2020-04-21 22:05 | Report Abuse

lao sai show

Posted by SuperPanda > 2020-04-21 22:28 | Report Abuse

lucky for traders margin call force selling now has been eased out, if not many counter sure dive in

____________________
iv. Greater flexibility for brokers to manage margin accounts

The Exchange will give more flexibility and discretion to brokers by removing the requirement to automatically liquidate their client’s margin account if the equity in the margin account falls below 130% of the outstanding balance. Brokers will also not be required to make additional margin calls or impose haircuts on any collateral and securities purchased and carried in margin accounts due to an unusually volatile market.

Posted by SuperPanda > 2020-04-21 22:30 | Report Abuse

but im expecting price will drop slowly if oil continue weak this week

tp .14 by friday

Posted by Expertise > 2020-04-21 22:45 | Report Abuse

Just buy from bottom nothing to fear...hehe

Posted by limitupupup > 2020-04-21 22:46 | Report Abuse

define bottom, 0.1? 0.05 nobody knows

Posted by TAK1 > 2020-04-21 22:51 | Report Abuse

0.05

Posted by pang72 > 2020-04-21 22:58 | Report Abuse

habis la.....

Posted by limitupupup > 2020-04-21 22:59 | Report Abuse

all in sell house sell car sell wife sell underwear Q at 0.05

Posted by pang72 > 2020-04-21 22:59 | Report Abuse

brent drop be low usd10.
wti drop below usd5...

market crash by Friday!!

Posted by pang72 > 2020-04-21 23:08 | Report Abuse

............pray that brent would not crash today -- 50% else you no way run tomorrow

Posted by pang72 > 2020-04-21 23:54 | Report Abuse

wti crash 37%...

Posted by pang72 > 2020-04-22 00:31 | Report Abuse

wti crash 40%

Posted by pang72 > 2020-04-22 00:31 | Report Abuse

50% after wake up

Posted by Silent75 > 2020-04-22 00:53 | Report Abuse

No eye see.... Wanna jump floor liao

Posted by paktua73 > 2020-04-22 06:49 | Report Abuse

morning to all armadian warriors..

today will bloody battles..
who dare to fight today?
remember..
tough fighters belong to the tough battlefields..
let fight!!

https://youtu.be/-YI31SaprDI

troopers..
you're the real fighters on armadakingdom..




tut tut
troops stand to reloaded at below 0.11 today..

Posted by Ziko Ro > 2020-04-22 08:13 | Report Abuse

Aiyaa !! debts must have to pay. At his price how to survive operation cost. Bye bye.

Posted by Ziko Ro > 2020-04-22 08:19 | Report Abuse

Pak tua at this price red army also run lintang pukang.Save our money first. Ini bukan masa nak bermadah seloka !! he he

Posted by Keyman188 > 2020-04-22 08:20 | Report Abuse

The oil industry shakeout is just beginning with more production cuts and bankruptcies ahead 

(PUBLISHED TUE, APR 21 20204:01 PM EDTUPDATED 15 MIN AGO) 

~ U.S. oil companies are already paring back spending and closing wells, but wild trading in the futures market was a warning to curb production now because the world at some point will not be able to store any more supply, 

~ Refineries have already cut fuel production by 25% and could have to do more, as fuel demand has skidded. 

~ It will be survival of the fittest in the oil patch, with fewer and bigger companies left after a shakeout and consolidation. 

~ “There are a whole lot of companies that are going to fail, disappear,” said one analyst. 


##https://www.cnbc.com/2020/04/21/the-oil-industry-shakeout-is-just-beginning-with-more-production-cuts-and-bankruptcies-ahead.html

Posted by HuatlaiOnglai > 2020-04-22 08:29 | Report Abuse

Oil price WTI start to recover but demand need to increase in order to support consumption.

Posted by paktua73 > 2020-04-22 08:33 | Report Abuse

paktua speak louder...
more n more..

let be brave and smart...
let hear this..

coward people..
they begins to scared..
they started to blur they mind..
started to sweat..

all bad news haunted they mind..
they started to doubt their believe..
they began to question an everything again back..

scared armada will hit by rouge red sea again..
they starting to cut lost plan..
they hunt by doubtful ghost..

ask your self.
how many we going through it
run on our fear..???
how many is make realize..
all our fear is a fake..

its just a game on our mind..
if scare.. just get it out from here!!
don't waste your time and money
to play on what your doubtful
coz..
that its real a stupid step..



https://youtu.be/tiMY7-h3xnE


your money..you journey..your ship..
why let naysayers rope so easly from your hand..
now you decided it..
which way you choose to be



tut tut
let be fighters..now or never

Posted by paktua73 > 2020-04-22 08:46 | Report Abuse

paktua dare to say louder n clear..

we red stock player..
we don't care else say..
what else think..
we stick on own methods no matter what..
we come to make money..
so what!!
we not to be hypocrite..
just to pretending to be other side face..
so what!!
we're be what we're..
we will! buy in.. if hit our buy call..
will sell it when hit above our sell tp..

so what!!

paktua say louder..
so what?

SO WHAT!!..

https://youtu.be/J2st9L2IDIc

thats why..
how what its and so what its..

we never hide when we take action..
we never feeble hand or influence by naysayers views..

so what!!!


tut tut
don't care else..

Posted by paktua73 > 2020-04-22 08:50 | Report Abuse

paktua speak louder..
let hear it..

price down we canot control..
but..
we can control our emotion..
not to influenced by own emotions..
remember..
most of we lost..
bcoz..
we follow the bad emotional..
many was lost not bcoz of downtrend rally..
but..
their lost of control on own emotional..
their always let..
fear and confuse be their leader..

now..
ask your self..
are you the captain on you move?
or..
just are passenger??

https://youtu.be/GQlKIZF0abM


remember..
THIS IS YOUR SHIP!!!..
BELIEVING on YOUR MOVE.
and ..
BE the CAPTAIN on your SHIP....


tut tut
are you so easy to let other simply take you position on your ship..
YOU DECIDED..

Posted by tkl88 > 2020-04-22 09:22 |

Post removed.Why?

Posted by signalmw > 2020-04-22 09:49 | Report Abuse

All in

Posted by signalmw > 2020-04-22 09:53 | Report Abuse

WTI oil usd 10, brent oil usd 18... Who want buy brent oils future

Posted by tkl88 > 2020-04-22 09:55 | Report Abuse

Wow, Nymex price started to spike up like crazy now !
Nymex=> $12.80 (+$1.23) (+10.63%)

Posted by tkl88 > 2020-04-22 10:36 | Report Abuse

US oil prices jump after massive rout
West Texas Intermediate for June delivery rises 18.93% to $13.76 a barrel
Published: April 22, 2020 06:12
AFP
https://gulfnews.com/business/energy/us-oil-prices-jump-after-massive-rout-1.1587521703297

Singapore: US oil prices surged Wednesday after a turbulent start to the week that saw them fall below zero for the first time due to a coronavirus-triggered demand shock.

US benchmark West Texas Intermediate for June delivery rose 18.93 per cent to $13.76 a barrel, after suffering heavy falls in New York overnight.

WTI for May delivery on Monday collapsed to an unprecedented low of minus $40.32 as traders scrambled to sell it before the contract expired Tuesday, but could find few buyers with storage capacity fast filling up.

European benchmark Brent crude for June delivery was up 0.98 percent at $19.52 a barrel, after tumbling to an 18-year low the previous day.

Posted by Keyman188 > 2020-04-22 12:20 | Report Abuse

Brent oil further dropped by 12.62%.... 

Now @ $16.89 (-$2.44).....Very high possibility will break below $10 soon this few days..... 

##https://www.bloomberg.com/energy

Posted by mikekim > 2020-04-22 13:28 | Report Abuse

With Brent at US$16, all clients of BA cannot breakeven costs. If this is only for a month or 2, then maybe it’s fine, but any longer than that, default will start to happen.

Anything below $35 Brent price is very risky for BA due to contract termination risk. It’s a binary risk. Any substantial contract termination will lead to a massive gap down.

Not to say that there’s no chance of a strong rebound. Just not now. Patience.

Posted by Mabel > 2020-04-22 14:57 | Report Abuse

Trump to the rescue for oil producers
Tweet from the President:

We will never let the great U.S. Oil & Gas Industry down. I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!
22/04/2020 2:55 PM

Posted by tkl88 > 2020-04-22 16:01 | Report Abuse

Wow, Fantastic !
Now Armada already turn green and traded at 0.17 (0.005) (3.0%)
Like that today Armada definitely can closed at 0.18 (+0.015) (+9.1%) already !
Keep it up Armada !

Huat ah ! Heng ah ! Ong ah !

Posted by shpg22 > 2020-04-22 18:54 | Report Abuse

Don't take his word too seriously. He talk like fart

Posted by tkl88 > 2020-04-22 22:02 | Report Abuse

Wow, oil price continue to spike up !
As at 10.00pm,
Nymex => $15.65 (+4.08) (+35.26%)
Brent => $21.97 (+2.64) (+13.66%)

Posted by investortrader88 > 2020-04-22 22:56 | Report Abuse

https://oilprice.com/Energy/Oil-Prices/Oil-Jumps-After-Trump-Orders-Navy-To-Shoot-And-Destroy-Iranian-Gunboats.html

Posted by investortrader88 > 2020-04-22 23:21 | Report Abuse

https://www.aljazeera.com/ajimpact/stocks-rebound-oil-price-200422123959687.html

Posted by tkl88 > 2020-04-23 06:17 | Report Abuse

Wow, Fantastic ! Dow Jones spike up to
closed at=> 23,475.82 (+456.94) (+1.99%) !