Big Gains for Crude Futures

by Mohammed Marzuq, KPI Bridge Oil
Thursday May 21, 2015

Crude futures rallied today as the U.S dollar saw downward pressure compared to other currencies making commodities more affordable for people of different monetary holdings.

Further to mitigate the losses from earlier in the week we saw speculators driving the market after EIA data came out yesterday stating there had been significant withdrawals in U.S inventory.

Brent crude futures for July contracts firmed $1.51 per barrel while WTI July contracts spiked up $1.74 per barrel.

Bunkers were firm in the primary ports.