Oil Touches $50/bbl, But Ends Flat

by Tim Bonett, KPI Bridge Oil
Thursday May 26, 2016

Prices reached the half century mark today but only bobbed at the surface during early morning trading before coming back down for the duration of the day.

As we hit $50/bbl there is some concern that producers who have been on the sidelines may begin to ramp up production while it makes sense, only to send prices south.

As we head into a holiday weekend the market will be looking to next weeks OPEC meeting with expectation of a production change.

Bunker prices were stable 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.

To contact the editor responsible for this story email us at editor@shipandbunker.com