Floating storage of gasoline in vessels off the coast of Europe has soared to over 400,000 tonnes, with oversupply in the market threatening to hit profits come the summer months. While gasoline prices are expected to rise in the coming months, and exports from Europe to West Africa and the US have been increasing, analysts warn that owners of the floating fuel could hit problems if demand proves weak over summerthe summer months months.
Floating storage of gasoline in vessels off the coast of Europe has soared to over 400,000 tonnes, with oversupply in the market threatening to hit profits come summer. While gasoline prices are expected to rise in the coming months, and exports from Europe to West Africa and the US have been increasing, analysts warn that owners of the floating fuel could hit problems if demand proves weak over the summer months.