Oil Down as Saudi Arabia and Iran Continue to Contend with the Idea of a Production Freeze

by Tim Bonett, KPI Bridge Oil
Monday April 4, 2016

Today's trading session was a bit of a seesaw event but uncertainty surrounding the OPEC meeting in Doha had crude prices retreating by the second half of the day.

Saudi Arabia and Iran continue to contend with the idea of a production freeze as the meeting dates looms closer, increasing speculation that no deal is imminent.

Both Russian and Iran touted production increases in March giving no support to current crude prices.

Analysts anticipate more volatility between $30 and $40 per barrel.

Bunker prices were 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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