From Ships to Spreads, There Are Growing Signs the Oil Surplus Has Arrived
Evidence of a long-awaited supply overhang on global crude markets is becoming more tangible.
The Cano Cristales Cartagena tug guides the Caribbean Glory crude oil tanker near Covenas Port in Colombia.
Photographer: Carlos Parra Rios/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities powering the global economy. Today, oil reporter Grant Smith looks at the growing signs of a supply overhang.
This year’s long-anticipated oil surplus has taken so long to show itself that traders were starting to doubt it would ever arrive. The wait seems to be ending.