Crude Benchmarks Leap on Supply Fears

by George Belekos, KPI Bridge Oil
Monday May 16, 2016

Crude benchmarks leaped higher this morning on supply fears due to current outages in Nigeria and Venenzuela and the potential for more across the globe.

Further support came from Goldman Sachs which reversed its longstanding bearish outlook on oil.

The bulls were tempered though as Genscape hinted at an inventory build last week and some locations with outages signaled they would be back online quickly.

Bunker prices were firm in the primary ports.

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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