bloomberg.com - 1/7/2009
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Jan. 7 (Bloomberg) -- Oil traders are seeking as many as 10 supertankers to store crude, potentially taking the amount hoarded at sea to almost five days of European Union demand, according to Frontline Ltd. , the largest owner of the vessels. About 25 of the carriers, each able to hold about 2 ...
ritholtz.com - 1/12/2009
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ritholtz.com —
Yesterday’s 60 Minutes had a story on Oil
Speculation. Its not that they said anything wrong, its...
more that they told 10% of the story of the rise and fall of energy prices. Surprisingly thin, it completely missed all of the many other factors ...
(more)
Oil Speculation ?
ritholtz.com - 1/7/2009
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ritholtz.com —
The major commodities indices are being rebalanced, and
I am forced once again to question their timing....
Recall the last major rebalance: At the time, I had been challenged by Larry Kudlow to find a smoking gun for the sudden 2006 collapse of Oil ...
(more)
Here Comes the Commodity Index Rebalancing
bloomberg.com - 1/7/2009
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bloomberg.com —
Jan. 7 (Bloomberg) -- Frontline Ltd. , the
world’s biggest owner of supertankers, said oil traders want...
to charter as many as 10 vessels to stockpile crude to take advantage of higher prices later in the year. About 25 supertankers were already hired ...
(more)
Oil Traders Seek Another 10 Tankers for Storage, ...
Comments
Blog Reactions
Links 01/07/09
Paul Kedrosky's Infectious Greed —
Oil tankers doing the contango oceanic thing (Bloomberg) John Paulson Profits in Downturn (Portfolio) Boston-area commercial real estate sales plunge (The Boston Globe) US and China Must Tame Imbalances Together (Yale/Petsis) Why Spain’s Economic Crisis Is Something More Than A “Housing Slump” (afoe) Cancer and Statistical Illusion (MR) Satyam Chief Admits Huge Accounting Fraud - NYTimes.com (NYT) Wary Americans Slowed Spending Long Before Economic Crisis (MC) Asia to have V-shaped recovery ...
Commodity Readings: Tanker storage, Index rebalancing, Iron ore bust
GalaTime —
Bloomberg: Oil Traders Seek Another 10 Supertankers for Storage
Oil traders are seeking as many as 10 supertankers to store crude, potentially taking the amount hoarded at sea to almost five days of European Union demand, according to Frontline Ltd., the largest owner of the vessels.
Traders are seeking to lease ships for three to nine months, Jensen said. Crude oil for December delivery traded at $61.90 a barrel as of 10:49 a.m. in London, $13.66 more than the February contract. Oil companies and traders may be able to profit from storing the oil, assuming shipping, insurance and ...
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FT.com / Companies / Energy - Supertankers store 50m barrels of oil
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Trading Strategy: Oil Stocks vs Oil
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When Oil Was Free
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Boatloads of Crude
traderdaily.com 12/16/2008 —
Oil companies and traders are storing at least 50m barrels of oil in supertankers in a clear sign of supply outstripping demand as the global economy slows.
The surge in floating storage, – enough to meet France’s oil imports for a month and the ...
Where Is Oil Going Next?
nytimes.com 1/16/2009 — As demand for oil has plunged, companies up and down the energy pipeline are acting in ways that would have been unimaginable until recently. >
Pump It Up —
The Big Money 1/5/2009
"Drill, baby, drill!" was the glibly rapacious chant that came to dominate the oil debate during the presidential race. Now "Tax, baby, tax!" is beginning to define our post-electoral national-energy-policy mood. That tax would be a gas tax, which ...
Lio Olive Oil Slick Pickin’ —
The Big Money 1/6/2009
From the groves of Italy to the sounds of the Appalachia, The Big Money asks whether this video of a homemade banjo affects Lio Olive Oil’s brand.
read more
Putin’s New, Lame Cold War —
The Big Money 1/8/2009
Of all the loan words that the Russians have taken from English, hooligan is one of the most popular. Its origin seems to be a slur based on the Irish last name Houlihan, but the Russians have always taken to the word with gusto, using it far more ...
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