Storage Saga Contributes to New Oil Market Chapter
OK, then the storage craze has officially started. We need our little hypes – don’t we? The world has too much crude. OK. We don’t know how much of the demand we lost might come back and when. OK. But does anyone ask the question if we actually need those storage tanks? Because storage costs money. Those tanks need to be built, financed, managed, … Its a calculation. What’s my upside from having more storage capacity? Will this upside cover the cost and make me a buck? We don’t know what the world will look like next year. I am personally convinced that oil will not only come back but be bigger than ever – at some point in the near future. But would you risk millions on a hunch of mine – or someone else?
