Crude Benchmarks Fall Further As US Crude Supplies Continue to Rise

by Tim Bonett, KPI Bridge Oil
Wednesday March 5, 2014

Crude benchmarks continued to head south today on EIA released crude inventory data and speculation of reduced risk to the disruption of Russian oil shipments to Europe.

US crude supplies rose for a seventh straight week while demand from refineries slows for maintenance to prepare for summer fuels.

US payroll figures were also bearish for WTI as companies reportedly added fewer jobs last month than expected.

Overseas, US Secretary of State John Kerry is expected to meet with Russian Foreign Minister Sergei Lavrov to discuss reducing the tension in Crimea.

By the end of the session WTI had slipped $1.88/bbl to $101.45 as Brent shed $1.54/bbl, finishing at $107.76. 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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