Skype: Technician - The forex channel
The highest number of oil tankers in the Houston New Orleans area has been 133 over the past few months. Over the past few days that number topped out at 180 tankers. With an average of 100,000 barrels - that about 4.7M barrels. Before the last Cushion report, I saw the fewest numbers before a report, then the huge 180 build up during Friday and a long weekend to fix the price to unload.
This is all about getting a massive amount of increasingly expensive ocean inventory out those tankers at better prices before the next report - if you can belive the report.
Oh yeah, helps those stock prices too.