CommoditiesMedium•8 November 2026•
1 min read
Floating Oil Inventories Hit Record 1.28 Billion Barrels
Key Facts
1Crude oil stored on tankers at sea has reached a record high of 1.28 billion barrels.
2Floating inventories jumped by 180 million barrels in just a few weeks, a 16% increase.
Crude oil stored on tankers at sea has reached a record high of 1.28 billion barrels. According to 247wallst.com, floating inventories jumped by 180 million barrels in just a few weeks, representing a 16% increase from previous levels.
The surge in floating storage suggests potential logistical bottlenecks or a mismatch between global supply and demand. Reports indicate that shipping and logistics costs have climbed to exceed 30% of the cost of a barrel, while Brent crude settled at $107.03 on November 3, 2026.