Crude Benchmarks Retreat

by Tim Bonett, KPI Bridge Oil
Monday May 2, 2016

Crude benchmarks retreated today as the fundamentals that were tossed aside during last week's rally were brought to light with anticipated inventory figures for the week.

Speculators are anticipating a 1.4 million barrel build last week at Cushing and a larger build could erode all positive sentiment left in the market.

As the market awaits Wednesday's EIA report keep an eye on the dollar's movement and its effect on commodities.

Bunker prices were softer 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