Crude Prices Start the Week Soft

by Mohammed Marzuq, KPI Bridge Oil
Monday May 11, 2015

Crude prices softened today continuing the action we saw last week.

To put it in perspective though one should note that the fall in crude futures is not even close to how fast it has risen the past 7 weeks.

On Wednesday of this week, official EIA information will come out giving specific storage data currently being held in Cushing, Oklahoma.

We should hopefully see a stronger softening trend if the data sways in the bunker buyers favor.

WTI crude futures for June fell 14 cents settling at $59.25 per barrel.

Brent futures for June softened by 48 cents settling at $64.91 per barrel.

Bunkers were mostly steady in the primary ports. We are anticipating Wednesdays EIA data and are crossing our fingers for an increase in inventories.

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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