Brent down and WTI Up After Both Grades Were Heavily Down During the Day

by George Belekos, KPI Bridge Oil
Thursday October 2, 2014

The roller coaster ride continues in the oil markets with Brent down and WTI up. 

Both of the grades in crude were down heavily earlier in the day but by market close had recovered much of their losses. 

Guess all the "peak oil" theories can be thrown out the window at this point? 

US oil production is expected to be the highest it has been in over forty years by this time next year and other locations around the world continue to expand supply more than demand. 

That being said it will not be long before OPEC claims to be reducing production and a defense will be created for $100 bbl oil. 

Bunker buyers should take advantage of the lower numbers while they can.  Fill 'er up.