Crude Maintains Upward Trend

by Mohammed Marzuq, KPI Bridge Oil
Monday April 13, 2015

Today Crude futures held the northerly course we witnessed last week.

The price increase was due to the slowdown of U.S drilling, Yemen conflict, and the fact that Iran would not be able to re-supply the market right away when and if sanctions were lifted.

Ultimately, traders were looking to cover there short positions who were betting against a recovery since the price spike last week which caused a bit of an uproar in the market.

There was some volatility in the bunker market today but we expect fuel buyers to maintain the low prices for quite sometime.

Citigroup has put out a commodities outlook report stating that Brent Crude will have an average of $55 per barrel during 2015.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com