Crude Oil Prices Finish Day in a Mixed Bag

by Mohammed Marzuq, KPI Bridge Oil
Wednesday April 22, 2015

Bunkers were steady in the primary ports today as crude oil prices finished in a mixed bag. 

Brent closed higher, despite spending the early part of the day down, WTI on the other hand finished lower. 

The primary driver for the increase in Brent was the fact that OPEC leading Saudi Arabia continued to engage the Houthi rebels in Yemen, despite claiming yesterday they would cease operations. 

WTI moved lower on the back of inventories in the United States continuing to build. 

We maintain that crude might be trading higher than it should be right now and expect to see some softening in the coming weeks.

However, it is almost time for the speculators to start talking about hurricane forecasts and the summer driving season and once that rhetoric starts it will be a feeding frenzy.

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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