Oil on the Rise as Speculators Focus on Kuwait

by George Belekos, KPI Bridge Oil
Tuesday April 19, 2016

The Doha meeting is already in the past and speculators are focusing on the labor stoppage in Kuwait, driving the oil complex higher.

Furthermore, comments from Iranian oil Minister that the country’s output will reach the pre sanction levels around mid June also gave a message that Iran might be willing to negotiate a production freeze in the near future.

Oil markets will be looking at the API and EIA reports, late Tuesday and early Wednesday respectively, to decide for a direction.

Bunkers were firming in the primary ports today.

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