Crude Prices Resume Their Decline

by Tim Bonett, KPI Bridge Oil
Wednesday October 22, 2014

Today's round of selling came after the EIA reported a 7.1 million barrel crude build, more thank double the size the market had anticipated.

Refinery utilization is at its lowest point since March as a transition period is taking place for winter grades.

However, the U.S. continues to produce crude at a 9 million barrel a day rate.

After trying to gain some steam WTI is again testing the $80/bbl threshold.

Some expect this level to initiate a pullback in domestic production but that price point remains to be seen.

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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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