Crude Down on Inventory Expectations

by George Belekos, KPI Bridge Oil
Tuesday April 1, 2014

Analysts are expecting crude inventories to continue to rise for an eleventh straight week when the EIA releases its weekly data report tomorrow.

The expected build in crude stocks weighed heavily on WTI despite encouraging US manufacturing data that showed the sector expanding in March.

The Chinese government released data that factory activity edged up last month but not enough to appease the market as

Brent was heavily pressured on the heels of yesterday's Euro Zone factory news.

By the end of the session WTI had retreated $1.84/bbl to $99.74, Brent fell $2.14/bbl to $105.62/bbl. Bunker prices were softening 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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