"Money Doesn't Grow On Trees... It Floats On The Ocean"
"Money Doesn't Grow On Trees… It Floats On The Ocean" “ There’s oil all over the oceans right now. That’s where they are storing oil; we have never seen anything like that,” Trump, rather oddly bringing up such an archaic topic, said this week from the podium of the White House. “Every ship is now loaded to the gills.” And he was right. With oil demand in freefall, traders are resorting like never before to using the world’s fleet of supertankers as temporary floating storage facilities, filling them with millions of unsold barrels until better times. As Bloomberg's Javier Blas notes, it’s an unusual trade, but one that’s among the most lucrative around right now, just when everyone on Wall Street struggles to make money. What Trump didn’t say is that the most intriguing facet of the floating storage trade is just how profitable it is. In the industry, it’s often described as a money printing press: traders buy oil on the cheap, and immediately sell their cargo forward in the futures market, locking in a chunky profit - with very little risk.
"Money Doesn't Grow On Trees... It Floats On The Ocean"
"Money Doesn't Grow On Trees… It Floats On The Ocean" “ There’s oil all over the oceans right now. That’s where they are storing oil; we have never seen anything like that,” Trump, rather oddly bringing up such an archaic topic, said this week from the podium of the White House. “Every ship is now loaded to the gills.” And he was right. With oil demand in freefall, traders are resorting like never before to using the world’s fleet of supertankers as temporary floating storage facilities, filling them with millions of unsold barrels until better times. As Bloomberg's Javier Blas notes, it’s an unusual trade, but one that’s among the most lucrative around right now, just when everyone on Wall Street struggles to make money. What Trump didn’t say is that the most intriguing facet of the floating storage trade is just how profitable it is. In the industry, it’s often described as a money printing press: traders buy oil on the cheap, and immediately sell their cargo forward in the futures market, locking in a chunky profit - with very little risk.