More Choppy Trading, WTI Breaks $50/bbl

by George Belekos, KPI Bridge Oil
Thursday October 6, 2016

More of the same today as choppy trading gave way to another gain in crude prices.

WTI surpassed the $50/bbl level for the first time since June.

Optimism regarding OPEC confounded with this week's US inventory report has thrown a vail on any disclaimers that oil prices have gotten ahead of themselves.

Technicals are not in support of prices but nobody is sure when the rebalancing act will take place.

Bunker prices were firming 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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