Bunkers Soft as WTI Slips Under $42/bbl

by Mohammed Marzuq, KPI Bridge Oil
Monday August 17, 2015

The U.S dollar was the harbinger of lower prices today driving both the NYMEX and ICE markets into the red.

U.S industrial output showed positive growth which helped the dollar hold fast against a basket of other currencies.

Opening Brent contracts for October delivery fell  $0.23 cents settling at $48.74 per barrel while WTI contracts for September were down $0.63 cents settling under $42.00 per barrel.

We can expect continued pressure on crude futures as slowdowns in the far east continue to be presentable.

Furthermore, U.S oil rig data has shown that producers are quickly coming online after a major slowdown in the past 6 months.

Bunkers were softer today 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.

To contact the editor responsible for this story email us at editor@shipandbunker.com