Crude Benchmarks Jump Nearly 5% in Trading Today

by Tim Bonett, KPI Bridge Oil
Thursday September 8, 2016

Hurricane Hermine may be well out to sea but the storm's impact hit crude prices hard today.

Due to the slowdown of ship traffic and the temporary closure of oil drilling in the Gulf of Mexico crude stockpiles plunged 14.5 million barrels.

Crude benchmarks jumped nearly 5% in trading today though a balancing of inventories is expected as we move forward.

Bunker prices were much firmer in the primary ports.

WTI October $47.62/BBL UP $2.12/BBL
Brent November $49.99/BBL UP $2.01/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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