Brent Settles Below $50/bbl for the First Time in Almost 6 Years

by Tim Bonett, KPI Bridge Oil
Monday January 12, 2015

Brent settled below $50/bbl for the first time in almost six years and both benchmarks continued their descending trends today.

Seven trading days into the new year and Brent is already down 17% as global supplies glut the market.

Both Goldman Sachs and Societe Generale severely cut oil-price forecasts for 2015 adding additional pressure on top the general sentiment that has helped us arrive at the current levels.

Keep an eye on China's oil import data for some direction tomorrow.

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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