Relatively tight front-month ICE gasoil spreads were prompting some traders to release oil from floating storage, sources said Wednesday."Freight has been cheap for a while but it is picking up from its lows again, so ICE gasoil spreads will have to weaken to keep oil of floating storage," a London-based trader said. "The question is does the market need more oil on floating storage?" he added, implying the market was already over-supplied.
展开▼
