Crude Futures Soften on Firming U.S Dollar

by Mohammed Marzuq, KPI Bridge Oil
Thursday July 30, 2015

Crude futures declined slightly today on the firming of the U.S dollar, making commodities priced in U.S currency less attractive to buyers of other monetary holdings.

U.S inventories saw a draw of 4.2 million barrels last week which caused the market to shift from the heavy sell offs we have all witnessed lately.

If it wasn't for the firming dollar we could have expected crude futures to rise to higher levels today.

Brent front month contracts for September delivery fell $0.15 cents settling at $53.31 per barrel while WTI contracts for September fell $0.27 cents settling at $48.52 per barrel.

Bunkers were steady today.

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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