Oil Markets Move Higher

by George Belekos, KPI Bridge Oil
Thursday May 5, 2016

Oil markets moved higher today with speculators highlighting production destruction from the raging wildfire in Canada's oil sands.

Early in the day WTI and Brent reached their peak at $46.07/bbl and $46.77/bbl respectively surging more than 5%.

Later in the day a strong dollar and yesterday's high crude stockpiles capped the gains of the two indexes.

Bunker markets were firm 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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