Crude Starts the Week Soft

by Tim Bonett, KPI Bridge Oil
Monday October 17, 2016

Crude benchmarks were pressured today as many traders closed out net long positions ahead of the expiry date.

Comments coming from Iran hoping to regain its market share added to the weight on prices but loses were limited as the hope of a production cut agreement remains.

We expect more volatility through the week as optimism teeters back and forth.

Bunker prices were somewhat soft in the primary ports.

WTI November $49.94/BBL DOWN -$0.41/BBL
Brent December $51.52/BBL DOWN -$0.43/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.

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