NYMEX Volumes Down as Snowmagedon Fails to Materialise

by George Belekos, KPI Bridge Oil
Tuesday January 27, 2015

Snowmagedon turned into just a normal winter day today as the weather forecasters were calling for the abominable snowman to make his way to New York City and the rest of the North East. 

It did however keep volumes down on the NYMEX. 

The dollar weakened today which drove Brent and WTI oil prices up. 

Additional impetus was provided by the OPEC Secretary General who said prices could increase to $200 per barrel without additional investment in production. 

Saudi Arabia is also looking to invest in production which many believe will also keep a bottom on prices. 

Surprisingly Goldman Sachs calling for $30 per barrel oil had little effect on the markets today. 

Bunker prices firmed in the primary ports.

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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