Global Crude in Transit Reaches Record 1.24 Billion Barrels as Supply Surges
A flotilla of crude oil on the world’s oceans expanded to a fresh high as producer nations keep adding barrels and the tankers sail further for deliveries.
Utor is now a Super Typhoon with max winds of about 130 knots as it approaches the coast of Luzon and could be as strong as 135-140 knots in squalls. Landfall is still expected between 18Z and 21Z today. Utor will weaken as it crosses over Luzon, however will likely remain at typhoon strength when it moves out over the South China Sea after 06Z 12th followed by some re-strengthening.
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