Crude Down as EIA Reports Surprise Build in Crude Stockpiles

by Tim Bonett, KPI Bridge Oil
Wednesday December 21, 2016

The market received a surprise today when the EIA reported a build in crude stockpiles.

Expectations had been for a draw as more oil rigs continue to come online in the US.

However, the blow was lessened by draws in distillates as WTI weakened 1.5%.

Volatility is expected to simmer as we head into the holiday weekend.

Bunker prices were softer in the primary ports.

WTI February $52.49/BBL DOWN -$0.81/BBL
Brent February $54.46/BBL DOWN -$0.46/BBL

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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