Brent, WTI Spread Continues to Narrow

by Tim Bonett, KPI Bridge Oil
Thursday April 10, 2014

"Rebel leader, this is the Libyan oil Empire, kindly confirm we are free for shipment of oil next week." 

"Agreed, Oil Empire.  The port of Hariga is ready and open."

This appears to have been the conversation done today as Brent and WTI both declined with Brent heading further south than WTI. 

This is continuing to narrow the spread and it is at the lowest it had been in over seven months. 

While the decline was modest, but if the shipments actually start to happen without incident one can expect oil prices to decline. 

Adding a million barrels a day of export to the market that close to Europe will have an impact on prices. 

Bunker prices did not decline as much as one would expect, but it is not unreasonable to think that after the Easter holiday we may see a decline.

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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