Crude Markets Mixed on Surprising Economic Data

by Tim Bonett, KPI Bridge Oil
Thursday March 13, 2014

Crude markets were mixed today on surprising economic data out of both China and the US.

Growth in investments, retail sales and factory output all fell in China prompting investor concern over an economic slowdown in the world's second largest oil consumer.

Russia restarted military exercises near it's border with Ukraine but investors were not fazed and Brent ended the day down.

US retail sales were positive for February and new applicants for unemployment benefits reached a three month low, sending investors to equities and supporting WTI.

By the end of the session WTI had gained $0.21/bbl settling at $98.20. Brent finished the session at $107.39, slipping $0.63/bbl. Bunker prices were stable 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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