Crude Benchmarks Tumble

by George Belekos, KPI Bridge Oil
Tuesday April 22, 2014

Crude benchmarks tumbled today on anticipation of a build in U.S. stockpiles when the EIA releases their report tomorrow. 

Bullish investors have been relying on the events in Ukraine to keep prices afloat but a correction was due as U.S. inventories near the 400 million barrel level. 

Brent's losses were lessened by afternoon as U.S. Secretary of State John Kerry advised Russia of potential consequences if they did not restrain separatist activists in Ukraine. 

The situation there continues to keep investors on edge.

By end the end of the session WTI had lost $2.24/bbl, settling at $102.13, while Brent slipped $0.68/bbl finishing the day at $109.27/bbl. Bunker prices tended to be softer 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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