Crude Rises to 2 Week High

by Mohammed Marzuq, KPI Bridge Oil
Wednesday March 25, 2015

Today crude front-month contracts for both WTI and Brent saw a rise by 3.6% and 2% reaching the highest levels seen in two weeks.

The driving forces behind these spikes are due to the weakening U.S dollar and fighting in Yemen.

The dollar fell against the Euro after Germany reported a rise in business morale for five straight months in a row this in turn makes oil cheaper for holders of  other currencies.

The Yemen conflict has fuel markets concerned over a closure of the straights between South Africa and the Middle East, which could prevent ships from trading this route via the Suez canal.

Bunker buyer's should keep a close eye on the fuel markets near term, stemming bunkers sooner rather than later could save money in the long run if these issues continue in the Middle East.

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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