Brent Closes Below $100/bbl As EIA Lowers 2014, 2015 Oil Price Forecast

by Tim Bonett, KPI Bridge Oil
Tuesday September 9, 2014

WTI found some support today as a new pipeline set to bring Bakken crude to Cushing reported a delay in it's scheduled opening.

The "Pony Express" line had initially been planned to start service in late August or September but has now been pushed back with no clear start date in sight.

Elsewhere it seems that the tune is on repeat, ample supplies of oil with decreasing demand.

Ahead of tomorrow inventory report, the EIA lowered its forecasts for oil prices for the remainder of 2014 and 2015.

Bunker prices were still somewhat soft in the primary ports.

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