Interesting chart in this tweet

Global Oil Storage change by area since end 2013

Article on the glut of new crude oil tankers currently hitting the market.

For Tanker Owners, Shrinking Oil Glut Is Least of Their Worries

https://gcaptain.com/for-tanker-owners-shrinking-oil-glut-is-least-of-their-worries/

slightly off topic, if your reading the article above take a look at the 'scuttling on the Viz' video just to its right about two thirds of the way down.

SMCJB 

slightly off topic, if your reading the article above take a look at the 'scuttling on the Viz' video just to its right about two thirds of the way down.

Wow that was dangerous

Here is link to article with videos
https://gcaptain.com/incredible-look-at-how-two-guys-escaped-the-scuttling-of-the-vis/

This will probably be an interesting read for many here...

People in these forums are always asking how do institutions and proprietary trading firms trade. Well Vitol is an institution in the oil markets. As you read this, and they talk about different deals, try to imagine how someone like Vitol trades in the futures markets...

Inside Vitol: How the World's Largest Oil Trader Makes Billions

By Javier Blas, Andy Hoffman

Giant Oil Trader Vitol Makes Billions in Volatile Times - Bloomberg

Bloomberg

@SMCJB - thank you

Some background/ general info on Vitol

Quoting 

Though physical trading, logistics and distribution are at the core of the business, these are complemented by refining, shipping, terminals, exploration and production, power generation, mining and retail businesses. Vitol has almost 40 offices worldwide and its largest operations are in Geneva, Houston, London, and Singapore. With revenues of $270 billion in 2014, it is the largest independent energy trader in the world, and would rank eighth on the Fortune Global 500 list.[5] Because Vitol does not publish its profits widely, much like most of its competitors in commodity trading, it is largely excluded from rankings. But the company does provide financial information to its lenders and some energy groups with which it trades.[6] The company ships more than 270 million tonnes of crude oil per year and controls 200 supertankers and other vessels to move it around the world. On average it handles more than 5 million barrels a day of oil and products - roughly equivalent to the daily consumption of Japan - the world's third largest oil consumer after the United States and China.[7][8]

https://en.wikipedia.org/wiki/Vitol

-William

SMCJB 

This will probably be an interesting read for many here... Giant Oil Trader Vitol Makes Billions in Volatile Times - Bloomberg

That was such a great read I bookmarked it so I can re-read it in the future. That was a well written piece and I admire the honesty of Vitol's Taylor.

Here's a link to my tableau online charts. There are energy charts from the weekly EIA report and also DCOT charts. You can ignore the dairy charts.
https://public.tableau.com/profile/ron.h8870

SMCJB 

This will probably be an interesting read for many here... People in these forums are always asking how do institutions and proprietary trading firms trade. Well Vitol is an institution in the oil markets. As you read this, and they talk about different deals, try to imagine how someone like Vitol trades in the futures markets... Inside Vitol: How the World's Largest Oil Trader Makes Billions By Javier Blas, Andy Hoffman Giant Oil Trader Vitol Makes Billions in Volatile Times - Bloomberg Bloomberg

Wow for a company that very much avoids the spotlight, lots of Vitol in the news this week

Vitol: world's biggest energy trader emerges from the shadows

https://www.theguardian.com/business/2016/jun/01/vitol-world-biggest-energy-trader-emerges-shadows

The Baker Hughes rig count report shows U.S. oil rig count increased by 9 in the latest week to 325.

Baker Hughes [AUTOLINK]Rig Count[/AUTOLINK], June 3 - Business Insider

John Kemp ‏@JKempEnergy 7m7 minutes ago

OIL MARKET is back in balance

COLUMN-Oil market is back in balance: Kemp | Reuters

Side note H/T Viraj at TopstepTrader - start watching rig count, price of /CL etc ie 50, 51, 52 etc

-William