Crude Benchmarks Surge

by Tim Bonett, KPI Bridge Oil
Monday March 3, 2014

Crude benchmarks surged ahead today due in large part to the recent Russian invasion taking place in the Black Sea region of Crimea.

Global markets have reacted negatively but investors are pouring money into commodities such as oil in fear that supplies could be greatly hindered.

Russia is the third largest oil producer in world but President Obama has promised that there will be significant costs for the country's recent actions, however they remain unclear.

Closer to home, investors are forecasting a 5th straight week of falling supplies at Cushing also supporting WTI.

At the end of the day WTI had jumped $2.33/bbl to $104.92/bbl while Brent gained $2.13/bbl, settling at $111.20. Bunker prices were firming 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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