Crude Benchmarks Inch Up as Iraq Troubles Continue

by Tim Bonett, KPI Bridge Oil
Thursday June 19, 2014

Crude benchmarks inched up today as the battle continues inside of Iraq.

President Obama announced that the US will be sending a team of 300 advisers to help the Iraqi army become more effective.

While the Baiji refinery remains under siege the oil producing region to the south of the country continues to be unaffected.

Global oil supplies outweigh demand but the uncertainty in the market continues to bolster prices.

US stockpiles continue to reach record levels but WTI is being pulled up with Brent.

By the end of the session Brent gained $0.80/bbl settling at $115.06/bbl. WTI gained $0.46/bbl finishing the day at $106.43/bbl.

Bunker prices were firming 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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