Rolling with the Tank Tiger: Storage Inquiries, Market Trends, and Economic Insights
Last week The Tank Tiger fielded a cornucopia of storage inquiries including Veg Oil, Distillate, fuel oil, Surfactant, Polyol, Clean Products and Marine Gas Oil. We’re pleased to say that we were able to hook up most of these inquiries for a potential storage deal with our terrific terminal operators. We’d like to think that no one works harder at playing the Match Game than The Tank Tiger does. We think Gene Rayburn would be very proud. Please put us on speed dial, the next time you are looking for storage. Our service is absolutely free for you to use. As you can see, The Tank Tiger has been sourcing tanks for more than just petroleum, but we still love oil – especially since contango is trying once again for a long awaited comeback. Oil futures ended the week lower on disappointing numbers that were floated concerning Chinese demand combined with more expectations that a Middle East resolution is on the table. Brent ended the week down to $81.13 a barrel while WTI took a bigger hit, dumping 3% for the week to $77.16 a barrel. We are certain to see more inquiries for crude oil storage if this sustained pricing pressure continues. If you’d like to see some data on our crude storage inquiries, together with the storage pricing associated with these inquiries, we’d be happy to share them with you. Then you can run all of your machine learning regression analysis, make accurate market predictions and win fabulous prizes!
The Fed is widely anticipated to hold the federal funds rate steady at tomorrow’s FOMC meeting, but traders will have their ears pricked to decipher the word salad to uncover any type of suggestion that the central bank will begin easing policy by the end of the 3rd quarter. Last week we learned that U.S. GDP rose at an annualized rate of 2.8% in Q2, smoting the +2.0% consensus estimate, and flexing its muscles over the Q1’s 1.4% growth. Despite what half of the country is telling you, the economy is strong with robust business spending continuing. Left a good job in the city, Workin’ for the man every night and day, And I never lost one minute of sleepin’, Worryin’ ’bout the way things might have been, Big wheel keep on turnin’, Proud Mary keep on burnin’ Rollin’, rollin’, rollin’ on the river
