Floating Storage Tumbles To 2-Month Low Amid Inflated Oil Market

The floating crude storage has tumbled to more than two-month lows as the incentives for storage start to recede.
Floating volumes peaked at over 210 million barrels in late June, but there has been a steady decline since then as some VLCCs and Suezmaxes have come out of storage.
Discharge delays in China have also increased sharply in the past few months as a rebound in buying caused logistical bottlenecks.
Until congestion issues begin to ease and domestic/international product demand...