Brent and WTI June Contracts Jump to levels Unseen as of 2015, But End the Day Down

by Mohammed Marzuq, KPI Bridge Oil
Monday May 4, 2015

Bunker prices started the day firming globally as both Brent and WTI front month contracts for June jumped to levels unseen as of 2015, however, by days end Brent futures settled a penny shy of the last close at $66.45 per barrel.

It seems that economic data coming out of China stating that factory activity has dwindled is keeping the market teetering around the same levels we saw last week.

Here in the US, WTI futures were down 22 cents by the end of the trading day, it is interesting that WTI finished lower in spite of the fact that the US oil rig count went down significantly.

Bunker prices were steady to firm in the primary ports.  Buyers should still be purchasing as far out as possible until a true reversal in the current trend is seen.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com