Crude Falls as Dollar Hits Three-Month Peak against the Euro

by Tim Bonett, KPI Bridge Oil
Thursday October 20, 2016

Traders took profits and ran today as the shine of yesterday's EIA report wore off and the market was reassessed.

Adding to the pressure was the dollar hitting a three-month peak against the Euro and a seven-month high against a broader amount of currencies making oil an unattractive investment.

Bunker prices were softer in the primary ports.

WTI November $50.43/BBL DOWN -$1.17/BBL
Brent December $51.38/BBL DOWN -$1.29/BBL

About KPI Bridge Oil

KPI Bridge Oil is one of the world's leading international bunker broking and trading firms. With a network of offices that covers every major time zone, we have an in-depth knowledge of ports and bunker markets around the world. Our access to real-time market information and long-established credit lines with suppliers means we use our buying power in the right place and at the right time. All this ensures our customers enjoy competitive prices - and on favourable terms.

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