TankWatch provides a satellite-based approach to deliver frequent and regular information reports across global oil storage tank sites, providing a unique insight into global oil inventories and reserves, tailored to meet the needs of oil traders and analysts.
Optimise Trading Strategies
TankWatch is the only information source that provides a true picture of storage volume dynamics through a combination of unique partnerships with satellite operators and data providers, industry-leading measurement techniques and profound knowledge of earth observation data analytics.
The service provides oil traders and analysts with precise, near real-time insight into oil tank storage at any location globally, enabling better price risk management options and greater decision making capabilities.
Maasvlakte, Netherlands Credit: DataDigitalGlobe
Oil Tanking, Singapore Credit: DataDigitalGlobe
Key Features
- Active tasking and cloud penetrating radar ensures consistent time of capture in week/month
- Only the highest resolution (sub-metre pixel) satellite imagery used
- Precise measurement method which delivers consistent accuracies
- Methodologies enable us to also measure smaller tanks
- Rapid delivery – within 24 hours of satellite acquisition
- Proprietary option available for client specific locations and timing
Client Benefits
- Easily acquire measurements ahead of the markets
- Identify the exact storage capacities of individual tanks anywhere in the world
- Monitor capacities of all tanks across an entire site or multiple sites
- Review historic site and tank storage volumes from 2010
- Monitor sites to identify expansion or contraction
- Identify measurable volume
Okiwa, Japan Credit: DataDigitalGlobe
Oil storage tanks at Cushing, Oklahoma.
Tankwatch Cushing provides the most frequent per operator Cushing oil coverage and is first to market with daily change in WTI stocks. Cushing is monitored on a continual basis enabling precise measurement and highly accurate insight into potential changes in supply and demand.
Investors are able to use this valuable intelligence of the WTI Cushing settlement hub to make improved, more agile trading decisions.
Related INSIGHTS
Contango at Christmas – will the new year bring a little seasonal cheer
The long wind-down in timespreads at Cushing continued over the last few weeks with the January contract slipping into a shallow contango upon expiry earlier this week. That is reflective of the change in physical storage needs in the hub, inventories there having built a solid 7 million barrels since bottoming out in early November. In the last few weeks, several factors pulled in the same direction to help replenish Cushing levels, including the ramp-up of new midstream crude infrastructure bringing in additional volumes from Canada to the US Gulf, significant SPR releases in PADD-3, somewhat weak crude runs in PADD-2 (until recently), and even rising US onshore crude production.
Stocks at Cushing continue to rise amongst WTI sell-off
Prompt WTI timespreads, as in every corner of the market, took a pummelling late last week amid the huge sell-off in crude brought on by the emergence of the new coronavirus variant. While the plummet in flat price and structure was triggered by fears that the Omicron variant would drag on global oil demand, the move was exacerbated by low liquidity on the long weekend, selling pressures from hedging activity and the triggering of sell signals, and initially high speculative net length.
Cushing storage dynamics remain important as releases from SPR hit the crude
Prompt WTI timespreads went on another rollercoaster ride in the run up to the latest weekly EIA release, with initial bullish input coming from API data that showed another draw on total US crude inventories. Dec/Jan ultimately pulled back from price levels approaching an exceptionally high $1.70/bbl as the market closed on Tuesday 9th, after the API release.