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2012 Independent Storage Survey: US fundamentals shaky for oil storage

Storage operators in the US have seen their speculative and, now, logistical businesses trimmed – but some are benefiting from rising US exports

Independent oil storage operators in the US are having to adjust to more difficult times. In 2011 their speculative storage dried-up as refined product prices moved into backwardation – futures prices lower than prompt, eliminating the attraction for speculative stock-holding and persuading marketers to trim their commercial stocks to the minimum. Then in 2012 they were faced with another decline in products consumption, cutting the volumes moving through their terminals. Logistical business – flows through tanks – has been less favourable since US refined products consumption peaked in 2005, at 20.802 million barrels a day (b/d) according to Energy Information Administration (EIA) statisti

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