Crude Soft Despite OPEC Efforts

by Tim Bonett, KPI Bridge Oil
Thursday November 17, 2016

Vocal OPEC members tried to create enough support today to keep prices rallying but a strong dollar and mounting supplies were too much to overcome.

The dollar rose today after the US Federal Reserve Chair gave a case for raising interest rates next month.

The market is finding it difficult to make heads or tails of OPEC which made it easier to allow the Fed's comment to drive prices on the heels of yesterday's bearish inventories report.

Bunker prices were firm to start but volatile throughout.

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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