Cyprus Mail
Business

Oil glut spurs top traders to book supertankers for storage at sea

Vitol, Trafigura and energy major Shell have all booked crude tankers for up to 12 months

By Jonathan Saul, Claire Milhench and David Sheppard

Some of the world’s largest oil traders have this week hired supertankers to store crude at sea, marking a milestone in the build-up of the global glut.

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