Crude Up 3%

by Tim Bonett, KPI Bridge Oil
Wednesday October 19, 2016

Today's inventory report rattled the cage of the bulls and sent price north 3%.

Crude stockpiles fell more than 5 million barrels at a time of the year when builds are typically seen.

Lower crude imports were believed to be a factor in the surprise draw.

A gasoline build was the silver lining for the bears as a draw was expected and oil prices were given a cap.

Bunker prices were much firmer 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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