Crude Soft as US Gasoline Stockpiles Rise

by Tim Bonett, KPI Bridge Oil
Tuesday February 7, 2017

The alarming rate at which US gasoline stockpiles are rising sent traders scurrying today, ahead of tomorrow's inventory report.

Current levels are just 2 million barrels shy of reaching last year's record setting amount.

Inventories are typically declining this time of year but rising US shale production continues to bolster stockpiles.

Both crude and distillate numbers are expected to increase when the EIA releases data tomorrow.

Bunker prices were softer in the primary ports.

WTI March $52.17/BBL DOWN -$0.84/BBL
Brent April $55.07/BBL DOWN -$0.65/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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