Oil Storage Sinks as Price Bobs

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SINGAPORE—Fewer oil tankers are being used to store wanton than traders and shipbrokers had approaching during a start of a year, as a new run-up in oil prices upended a renouned trade strategy.

“There were around 25 to 30 vast tankers taken final month, though usually around 10 of these are being used for oil storage now,” a Singapore-based shipbroker said, citing attention data.

Many marketplace watchers had approaching big…

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