Crude Takes a Roller Coaster Ride Monday

by George Belekos, KPI Bridge Oil
Monday April 18, 2016

A roller coaster ride for WTI and Brent crude oil during Monday’s trading.

The market opened soft on the back of a crumbling deal at the OPEC meeting to freeze some production to increase global pricing.

The disagreements seem to be centered around Saudi Arabia, being put off by Iran’s lack of participation in the agreed output freeze, even though this was stipulated before the conference.

However, the Energy complex started to recover in the late morning as a workers strike precipitated in Kuwait.

This caused fear of supply shortages and we saw bunkers start to climb back up toward Friday’s levels.

Bunker buyers can expect the remainder of this week to be volatile in both directions as the world’s largest energy producers try to cooperate on the price per barrel of crude oil.

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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