Brent Contracts for May Delivery Take Roller-Coaster Ride

by Mohammed Marzuq, KPI Bridge Oil
Monday March 23, 2015

The U.S dollar was under pressure again today losing 0.5% percent against other currencies.

When such things happen, it entices buyers to come into the market.

Brent contracts for May delivery took a roller-coaster ride and were trading as high as $56.18 per barrel, but succumbed to the inevitable and fell by 26 cents by the end of trading day settling at $55.92.

On the other end of the spectrum WTI contracts for May delivery ended up settling 88 cents higher by the days end.

Speculators insist that Saudi Arabia’s recent decision to maintain production levels of 10 million barrels per day will keep driving the market down.

From the bunker buyers perspective, its still a tremendous opportunity to buy as OPEC continues to produce more than the world requires

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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