Positive OPEC Comments Lift Prices 1%

by Tim Bonett, KPI Bridge Oil
Tuesday February 21, 2017

Positive comments coming from OPEC's Secretary General inflated oil prices by 1% today.

According to data OPEC nations are conforming even higher than the 90 percent rate signifying a unified front in curbing output.

It may not take much to burst that bubble though as Iran, who was left out of the deal, continues to increase production along with the US.

Keep in mind that due to the US holiday yesterday inventory figures will be released on Thursday this week.

Bunker prices were firmer in the primary ports.

WTI March $54.06/BBL UP $0.66/BBL
Brent April $56.66/BBL UP $0.85/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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