Crude Up After EIA Drawdown Larger than Expected

by Tim Bonett, KPI Bridge Oil
Wednesday August 20, 2014

WTI was on a run today after the EIA reported that the crude drawdown was much larger than most experts had anticipated.

Refinery activity was up 1.8% from last week while it was expected to decrease creating the more significant inventory plunge.

Refineries are still expected to start winding-down utilization rates for maintenance ahead of winter fuel production.

Bunker prices were firmer 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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