Crude Prices Lower as Fears of Supply Disruptions Dissipate

by Tim Bonett, KPI Bridge Oil
Monday June 30, 2014

Crude prices continue to come off as fears of supply disruptions dissipate in Iraq and Russia.

The fighting in Iraq seems to be contained at the moment and tensions in Ukraine are slowly subsiding.

Saudi Arabia officials have also given assurances that the world's largest oil producer would increase supplies if such a disruption to the global supply were to occur.

As a result, crude prices were pressured today despite heading into the 4th of July holiday in the US where a record number of Americans are expected to hit the roads.

By the end of the session WTI had slipped $0.37/bbl to $105.37/bbl while Brent fell $0.94/bbl to $112.36/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.

To contact the editor responsible for this story email us at editor@shipandbunker.com