Oil Prices Start the Week Soft

by Tim Bonett, KPI Bridge Oil
Monday February 13, 2017

Friday's oil rig count suppressed prices again to start the week as oil lost 2% in Monday's trading.

The count of rigs has now reached the highest point since October 2015.

OPEC continues to produce a stellar compliance rate but this seems to have already been priced into oil benchmarks as the rig count was today's main focus.

Some critics are now skeptical that production cuts will deliver higher oil prices.

Bunker prices were softer in the primary ports.

WTI March $52.93/BBL DOWN -$0.93/BBL
Brent April $55.59/BBL DOWN -$1.11/BBL

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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