Strong Gains for both WTI and Brent

by Mohammed Marzuq, KPI Bridge Oil
Wednesday April 15, 2015

Today crude prices saw strong gains in both WTI and Brent.

WTI front-month contracts for the month of May were up $3.10 per barrel nearly 6% since last close.

The main factor behind the spike was official EIA data informing that crude stocks at Cushing, Oklahoma rose 1.3 million when the expected was upwards of 4 million barrels.

The expiry of Brent May front-month contracts settled up 60 cents since yesterdays close.

This was attributed to the continuing uncertainty in Yemen as the Saudi's storm with ground forces to eliminate the Houthi rebels.

The bunker market saw significant spikes in some key ports and we expect prices to rise heavily tomorrow.

Bunker buyers should fix their ships when ever an opportunity arises.

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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