(Bloomberg) — To outsiders, the oil trade of the day is so astonishing that even President Donald Trump sounded flabbergasted when he described it.“There’s oil all over the oceans right now. That’s where they are storing oil; we have never seen anything like that,” Trump said this week from the podium of the White House. “Every ship is now loaded to the gills.”With oil demand in freefall, traders are resorting like never before to using the world’s fleet of supertankers as temporary floating storage facilities, filling them with millions of unsold barrels until better times. It’s an unusual trade, but …read more
Source:: Yahoo Finance
