Also booking caves for oil storage

Also booking caves for oil storage

NEW YORK - Oil traders began searching for ships, trains, pipelines, and caves to store traditional storage facilities after they ran out of space.

Dozens of oil tankers have been booked for storing 30 million barrels of jet fuel, gasoline, and diesel at sea in just a few days, according to shipping companies. 130 million barrels of crude oil are already stored in floating tankers.

Oil producers, refiners, and traders are using Northeastern American trains and empty pipelines to store crude oil and fuel. Northeastern Europe still has storage capacity, but experts say it has been booked.

All the salt caves in Sweden and other Scandinavian countries have been booked, some have been filled. "We are working on unique oil storage locations, where we may face operational problems," oil broker Crane Van told the news agency. Not all storage tanks from which oil can be easily transported to naval tankers are left, only vessels and frying pans are left.

Oil producers, refiners, and traders are using Northeastern American trains and empty pipelines to store crude oil and fuel. Northeastern Europe still has storage capacity, but experts say it has been booked.

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