Crude Oil Market Takes a Turn

by Mohammed Marzuq, KPI Bridge Oil
Tuesday March 17, 2015

The crude oil market took a turn today as Brent futures for May rose by end of trading day.

Brent's front month contract settled today up 7 cents from yesterdays close for April contracts.

This was mostly due to the U.S dollar weakening compared to other currencies.

WTI seemed to steer the course its been on and slipped 42 cents to settle $43.46 by the end of the day.

WTI's downfall was due to current levels of inventories at Cushing,

Oklahoma's additional stock pile of 3 million plus barrels added last week.

Although, we saw a rise in the Brent market it is to be noted that there is still heavy volatility that could keep the levels down across the board.

The bunker buyer should be able to enjoy low prices for the remainder of the week we suspect.

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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