Crude Futures Flat After Early Surge

by Mohammed Marzuq, KPI Bridge Oil
Monday November 23, 2015

Crude futures surged early in the trading day as OPEC leading Saudi Arabia stated they were looking to stabilize the market as we near their summit in Vienna on December 4th.

Although the latter gave positive sentiment to the crude markets the rally was quickly dissipated as traders focused on the realization that the market is still overly saturated.

The general consensus is that U.S. inventories will face another big build.

Brent front month contracts ended the day relatively steady to Fridays close up $0.17 cents per barrel while WTI contracts settled down $0.15 cents per barrel.

We look forward to this weeks EIA data to give us a clearer picture of market direction.

Bunkers were mostly steady today 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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