Crude Bearish Ahead of Brexit Referendum

by Tim Bonett, KPI Bridge Oil
Wednesday June 22, 2016

Crude received bearish news today when the EIA reported a smaller than expected draw on inventories.

Though still a draw for a 5th straight week, it wasn't nearly the level some investors were expecting and both benchmarks fell below the $50/bbl line.

The market is now bracing for tomorrow's Brexit referendum.

Bunker prices were somewhat soft 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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