Crude Takes a Roller Coaster Ride on Thursday

by Marisa McGuire, KPI Bridge Oil
Thursday June 5, 2014

Yeeeehawwww, quite a roller coaster ride today.  We made up for the lack of volatility yesterday, today. 

Both WTI and Brent started the morning down but regained their losses by the end of the day.  Brent more so than, WTI which finished in negative territory. 

The main reason for the wild swing, was the ECB announcing rate changes. 

Deposits are now getting a negative rate, for the first time in history in an effort to spur lending. 

But, by the afternoon, many speculators decided to jump back in the market thinking it is a buying opportunity. 

On a positive note, we have seen bunker suppliers actively competing for business 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.

To contact the editor responsible for this story email us at editor@shipandbunker.com