As Chinese Refiners Flood The World, Gasoline Tankers Pile Up In New York City Harbor

by Tyler Durden
ZeroHedge.com
Jul 13, 2016

Just over a month ago, when we pointed out that that the gasoline curve was about to shift from contango into backwardation, we said that the gasoline tanker armada off the coast of Singapore was about to start offloading as it would soon become uneconomical to hold product in offshore storage. This meant one thing: China was about to unleash a wave of accelerated gasoline exports across the entire world.

We pointed out the unprecedented surge in Chinese gasoline stocks…

The Rest…HERE

This entry was posted on Thursday, July 14th, 2016 at 10:22 am and is filed under China, Oil. You can follow any responses to this entry through the RSS 2.0 feed.