Project Description
August was a strong month across all the oil-based trades. Crude oil went up 13% in August yoy and a similar amount monthly. The demand increase seemed evenly spread across the world and likewise the supply was up across all the major oil exporting nations.
LNG Demand continues to be very strong in Asia and has superseded the previous high in January this year. Volumes to Europe remain consistent.
Palm oil remains lower than this time last year which has suppressed the vegetable oil group. Chemical tanker demand was strong month across most of the chemical groups.