More Huge Gains for Crude

by Mohammed Marzuq, KPI Bridge Oil
Monday August 31, 2015

Crude futures skyrocketed today after OPEC stated they were ready to talk to other producers about possible production cuts.

Both WTI and Brent were trading in the red early in the day but regained entirely all losses quickly.

All losses for the month of August were reversed in only 3 days of trading.

Crude surged over 25% in the last few trading sessions purely on speculation.

Brent contracts for October delivery firmed $4.10 settling well above $50.00 per barrel.

WTI front month contracts spike 9% settling at $49.20 per barrel.

Bunkers were extremely firm today in the primary ports and we witnessed swings of up to $25.00 - $35.00 per ton.

Its hard to depict what will happen in the following days as we patiently wait for EIA data.

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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