Last week, The Tank Tiger had a very good customer ask us to issue an anonymous inquiry on their behalf for Jet Fuel storage in California. The sudden need for Jet Fuel storage was exacerbated by the Crowdstrike failure that grounded thousands of flights and necessitated the storage of unconsumed Jet Fuel. (Aside from that and with full disclosure, […]
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Before you could say Jack Robinson, the ministers of OPEC+ wrapped up their short “meeting” on Sunday with a yallah and a tayyib and, to the surprise of no one, agreed to continue its oil production cuts into the year 2025. There wasn’t even any time for dessert baklava. The next meeting isn’t until December, so there […]
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Happy New Year! Time to tie those shoelaces, straighten your backs and get back to business. If you’re like us, you’re extremely excited about the possibilities that the New Year will bring. To that end, if you have any storage ideas germinating, we’re here to assist you – at no charge. U.S. crude oil closed out the year more […]
Once again, an activist investor (in other words: a bully with a bag of money), has appeared on the scene to disrupt the enterprise of a long standing integrated refining and marketing company. Last week, Elliott Investment Management unveiled a $1 billion stake in Phillips 66 and chirped about the company’s supposed underperformance. Their all too familiar strategy […]
What a difference a week makes. The institutional money and hedge fund lemmings pulled a Jimbo Fisher and headed for the exits as oil prices took the elevator down last week. Prices are down nearly 20% from their September zenith. Already there are fake news protests coming from the members of OPEC+. Obviously not happy with the direction, the […]
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What just happened? The 1 million barrel-a-day output cut the Saudis assigned preliminarily just for July was exacerbated by Russia also pledging export cuts of 300,000 barrels per day. More significantly, on Tuesday they announced both cuts extending through the end of the year. That’s right, the Penguin and the Riddler have combined forces and Batman and Robin […]
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OPEC+ is having a belly laugher of a time, watching oil inventories decline. Last week we witnessed a 6.1 million barrel US inventory draw. That’s a big number. If OPEC+ can manage to drain inventories without a demand crunching exorbitant near term price hike, they’ll have quite a bit more leverage with their global policies next year. Being shocked […]
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