Sluggish Start to the Week for Crude

by Tim Bonett, KPI Bridge Oil
Monday July 11, 2016

Crude got off to a sluggish start to the week as Canadian supplies come back online and the US oil rig count marches higher.

Adding further pressure to prices were traders cutting the cord on bullish crude bets with some anticipating a fall to below $40/bbl.

One shining star on a gloomy day was the record high of the S&P 500 index after the latest jobs report boosting some confidence in the economy.

Bunker prices continued to soften in the primary ports.