OPEC Chatter Helps Crude to 6% Gains

by George Belekos, KPI Bridge Oil
Tuesday November 15, 2016

Decision makers within OPEC are starting to stir while traders close out positions ahead of the months contract expiry, both sending oil benchmarks up nearly 6%.

There is increased pressure on deal to be done and although fundamentals remain bearish the market can't help but get on board positive reports of negotiations.

The dollar lost some steam today also bolstering crude.

Bunker prices were 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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