Brent at Levels Not Seen Since 2010

by George Belekos, KPI Bridge Oil
Tuesday October 14, 2014

Come one, come all to the bunkers blowout!  We are selling, selling, selling, until they are all gone, or the market moves back up. 

Brent has reached levels we have not seen since 2010 and is now firmly positioned below $90 bbl as it closed at $85.04 bbl. 

The news remains unchanged and as we have been saying for years supply and demand is finally returning to the market. 

Supply is far out pacing demand and OPEC seems unwilling to defend a specific pricing level. 

It does not take much to realize that OPEC is happy pumping millions of barrels of oil everyday with prices where they are. 

It does not cost them much to get the oil to the market and they are still profiting significantly. 

With lower prices the problem is they have to sell more in order to meet their national budgets. 

Let’s just hope these lower prices are not indicative of a major slowdown in the global economy which would be something no one wants to see.

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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