Crude Makes Largest One Day Gains in Over 6 Years

by Mohammed Marzuq, KPI Bridge Oil
Thursday August 27, 2015

Yesterdays draw data set the pace for crude futures today as front month oil contracts witnessed the largest one day gains in over 6 years.

Stocks across the board saw positive growth which helped firm commodities prices, as they had been harmoniously in-line.

Investors were keen on purchasing oil that had been sold short hoping to recover on the upside.

Brent contracts for October delivery spiked 10% and had settled at a warm $47.56 per barrel.

WTI contracts also came out of the doldrums by firming $3.96 per barrel to settle well over $40.00 per barrel.

At the end of the day we believe that crude prices will soften down to levels we have noticed this past week as current supply far exceeds global demand.

Bunkers were very firm today 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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