Brent and WTI Up as US Crude Oil Inventories Decline

by George Belekos, KPI Bridge Oil
Wednesday July 23, 2014

As crude oil inventories declined in the United States today both Brent and WTI increased. 

Inventories at Cushing, OK, the NYMEX delivery point, are at their lowest level since November 2008. 

Refinery runs remain steady as gasoline and heating oil both increased all of which is keeping prices in relative check. 

Should we have seen a draw in products as well as crude we would have prices easily $10 bbl higher. 

Bunker buyers need to prepare themselves for the potential of oil prices increasing dramatically. 

With the various geo-political problems around the world, any serious increase in demand will cause dramatic increases in oil prices. 

Keep clearing the desk of requirements as they come up until the current trend reverses.

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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