Energy companies and commodity traders can all benefit from having more precise and timely information on movements within the crude oil market.
Knowing more about the current locations of oil inventories as well as where they are moving, gives any trader a better overall understanding of the market, allowing them to buy and sell at optimum times.
Crude oil is typically stored in tanks in which the roofs float on top of the oil content inside the vessel, meaning the roofs rise or fall as crude oil is pumped in or out of the tank. Sentinel-1’s InSAR capabilities allow for the monitoring of the heights of these roofs worldwide. This data can then be processed to build a global picture of crude oil inventories. Market participants can then use this information to make better informed business decisions.
This encourages market competition and ultimately drives prices lower for end users.