Crude Trading Mostly Flat On Wednesday

by Tim Bonett, KPI Bridge Oil
Wednesday August 27, 2014

Crude trading was mostly flat today on a mixed US inventory report.

Crude stockpiles were reported down sharply from expectations but supplies at Cushing, the contract delivery point, rose.

US supplies remains ample with WTI trading around 7 month lows.

Elsewhere, the Ukraine/Russia conflict wages on and supplies coming out of Iraq remain unaffected to the insurgent movement but investors will keep an eye on both situations.

The current demand outlook does not support increasing prices until something goes awry in one of these sensitive areas. Bunker prices were stable in the primary ports.