Brent Jumps 5% to Break $50.00 Ceiling

by Mohammed Marzuq, KPI Bridge Oil
Tuesday October 6, 2015

Crude oil surged for a second day in a row today on a weakening U.S. dollar and news that big players Russia and Saudi Arabia are ready to discuss how they can support the oil market.

Commodities were favorable to holders of other currencies and we witnessed WTI contracts for November delivery firming to 3 month highs settling up nearly 5% at $48.53 per barrel.

Brent contracts for November delivery broke the $50.00 ceiling we have witnessed for months settling up over 5% at $51.92 per barrel.

Bunkers were very firm today across the board and we sit in anticipation for EIA tomorrow which will heavily dictate the market direction.

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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