Current GLEN:LN Stock Info

Crude storage is becoming less attractive as futures prices decline
Swiss mining giant and commodity trader Glencore (ticker: GLEN) is looking to divest its global storage assets, following similar moves by rivals Vitol and Gunvor. As the futures curve begins to flatten and the market enters backwardation storage is becoming a less attractive asset for commodity traders who stockpiled crude while prices remained low.

Demand for storage skyrocketed when oil prices cratered throughout 2015 as traders bought crude oil with the intention of hol...

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