Oil Dips Again on OPEC Deal Doubts

by George Belekos, KPI Bridge Oil
Wednesday December 7, 2016

The oil market spent the day tossing around the idea that perhaps the OPEC agreement may not be enough to curb the supply glut.

It is most likely that there will be a wait and see approach to prices but may take months before any evidence appears.

The EIA also produced a bearish report which further pressured prices on top of the gloomy sentiment.

Bunker prices were softer in the primary ports.

WTI January $49.77/BBL DOWN -$1.16/BBL
Brent February $53.00/BBL DOWN -$0.93/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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