Crude Up 4% on OPEC Speculation

by Tim Bonett, KPI Bridge Oil
Monday November 21, 2016

The market is getting anxious as we head into a holiday shortened week here in the US.

Crude rose 4% on pure speculation that we are getting ever closer to an OPEC deal.

There are hurdles that remain but the believers seem to outnumber the skeptics.

The dollar also came off last week’s highs giving further support to oil.

Bunker prices were considerably firmer in the primary ports.

WTI December $47.49/BBL UP $1.80/BBL
Brent January $48.90/BBL UP $2.04/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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