Shell and Koch Industries Inc. of Wichita, Kansas, also hired four supertankers to hold oil in the U.S. Gulf Coast to take advantage of rising prices in the months ahead. They took Very Large Crude Carriers, or VLCCs, to move oil from the Middle East, said Bruce Kahler, a broker at Lone Star, R.S. Platou in Houston.
Crude Oil
Contango Pays Most in Decade as Shell Stores Crude
Senator Increases Pressure On Oil-Market Regulator
Sen. Maria Cantwell (D., Wash.) said she is prepared to hold up appointments to the agency that regulates energy and commodities futures trading if it doesn't strengthen crude-oil market oversight.