Crude Futures Plunge, Brent Drops Under $35/bbl

by Mohammed Marzuq, KPI Bridge Oil
Wednesday January 6, 2016

Crude futures plunged into the red today being fueled by massive gasoline builds in U.S inventories, a stronger dollar, and weak economic outlook in the BRIC countries.

U.S sweet crude contracts, for February delivery, cooled off by $2.00 per barrel to settle at $33.97.

ICE front month contracts softened over 5%, settling at 2004 lows of $34.23 per barrel.

Watch for a bounce tomorrow, due to investors short coverings, but we urge bunker buyers to take advantage of the current market.

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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