The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
An interesting insight into the current situation from analysts knowledgeable in the freight sector that seems to be a bit more optimistic than most media sources.
Positives: It seems highly unlikely that we will experience a real world storage crisis, which should decrease volatility and short-term prospects for the POO. The dramatic decreases in average storage costs since April support this.
Negatives: speculators holding oil and the high ongoing storage costs may depress the POO for 6-12 months as spot supply/demand comes back into equilibrium due to speculators offloading oil at a discount.