The volume of crude oil sitting in stationary tankers jumped to the highest in more than two and a half years on June 23, as an unusual cluster of Saudi oil tankers is idle off Egypt’s Red Sea coast. Crude oil on stationary tankers has reached around 129 million barrels as of the end of last week, the highest floating crude volumes since October 2020, Vortexa data cited by Bloomberg showed on Monday. Recent data points have shown that while crude on floating storage has been rising, crude in transit and total crude volumes at sea have been…
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