Crude Recovers Half of Wednesday's Losses

by Tim Bonett, KPI Bridge Oil
Thursday July 14, 2016

Crude prices recovered half of Wednesday's losses as traders covered short positions.

The dollar was also weaker making oil more attractive after the Bank of England surprisingly chose not to cut rates.

Some analysts speculate crude is headed to $40/bbl with the current inventory situation, despite the signs of growth in the market.

Bunker prices were somewhat firm 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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