Stockpiles Plummet, But Crude Still Ends the Day Lower

by Tim Bonett, KPI Bridge Oil
Wednesday October 1, 2014

Today's inventory report caught traders off-guard as stockpiles plummeted and imports rose sending crude prices higher early in the trading session.

However, by days end Saudi Arabia had cut its official selling price for crude - a signal that it has no plans to reduce output in the near future and oversupply in the global market will continue.

As a result, all momentum was lost and both benchmarks finished in the red.

Fortunately for bunker buyers a trend we expect to continue.

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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