Crude Up as Algeria Talks Move Closer

by Tim Bonett, KPI Bridge Oil
Monday September 19, 2016

Crude benchmarks got off to a hot start to begin the day as we draw closer to the meeting in Algeria next week.

Venezuela President Nicolas Maduro had very positive comments today that an output agreement would be put in place - though he may be more hopeful than most.

Prices were trading up almost $1 before receding once the commotion settled.

Traders will be looking to US and foreign monetary announcements later this week along with inventory figures for market direction.

Bunker prices were somewhat firmer 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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