US Crude Down, Stockpile Draw Has Little Impact

by Tim Bonett, KPI Bridge Oil
Wednesday July 13, 2016

The rug was pulled out from under crude today as the draw in stockpiles did little to veil the glaring build in refined-product supplies.

It is feared that refineries producing at near capacity rates have passed last years’ crude oil glut on to refined products.

Storage space is becoming thin for refined fuels such as gasoline even during the peak driving season.

Production rates are expected to fall as space runs out and crude levels could begin to rise again as a result.

The dissonance had bunker prices softening 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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