An American Senator After the Collapse of American Oil Prices: My Message to Saudis .. Turn Your Tankers Back to Hell
YemenExtra
After US oil prices fell to “historical” levels during the past two days, West Texas crude oil reached $14.22 a barrel, Wednesday.
Last Monday, West Texas recorded a major collapse with a closing value of “minus $ 37” per barrel, amid feelings of anger at the Saudi regime because it flooded the US market and the world with oil.
The American Senator Ted Cruz said on Twitter on Tuesday, “My message to the Saudis, turn your tankers back to hell.”
However, this rise may not be stable, especially as about 50 million barrels of Saudi oil are on their way to the United States, which is currently facing a crisis in the storage of crude. The demand for it has decreased significantly due to the effects of the Coronavirus response measures on the global economy.
Shipping data showed that more than 20 giant oil tankers – each capable of carrying two million barrels of oil – are sailing to the main American ports, especially in the American Gulf. Meanwhile, three separate tankers, which Saudi Arabia chartered, are docking outside the ports of this Gulf awaiting unloading.
US media reported that Saudi Arabia tried to store oil in giant tankers, but the owners of these tankers retreated because they “do not want to bind the ships for an unknown period.”
According to the “Oil Prices” website, Washington is considering preventing Saudi shipments of crude oil or imposing customs duties on these shipments, which increases obstacles on shipments already on the water.
“My message to the Saudis, turn your tankers back to hell,” said US Senator Ted Cruz in a tweet on Twitter on Tuesday.
Investors in the United States are outraged by the negative effects of such low oil prices.
Kyle Bass, director and founder of Hayman Investments, accused “the Saudis and Russians of waging war against American rock energy companies,” adding, “It appears they were not happy with the full American storage energy independence.”
Pace warned of another “negative” drop in oil prices next June after the arrival of the expected additional quantities of Saudi oil heading to the United States.