Crude Prices Resume Downward Slide

by Tim Bonett, KPI Bridge Oil
Thursday January 15, 2015

The market was unable to maintain the momentum from yesterday as both WTI and Brent gave back some of their gains. 

Many of the talking heads are claiming this is just a blip on the radar as the market continues to head down. 

Bank of America is predicting $32 per barrel for WTI by the end of the first quarter. If that comes to fruition bunker prices will be firmly in the "1s". 

It is not unreasonable to expect a further decline here. If OPEC is trying to shut down the exploration and drilling in the USA prices have to reduce more. 

It will also take several months before the next round of investment decisions has to be made by the shale players. 

While this is good for the consumer, it is not necessarily that good for the US economy as many of the job gains in the recent years have been a result of the energy boom in this country. 

Bunker prices were relatively stable today.

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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