Declining Dollar Holds Up Oil Prices

by Tim Bonett, KPI Bridge Oil
Wednesday January 18, 2017

Oil prices were held up mostly by a declining dollar and with a little help from Saudi Arabia.

The US dollar fell to a six-week low after President-elect Donald Trump commented that the strong greenback was hurting US competitiveness abroad.

This has caused WTI's discount to Brent to widen to a five month high.

Saudi Arabia provided the assist by reinforcing its commitment to cutting oil output from the world's leading exporter.

Bunker prices were firm to 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.

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