Demand is weak, Supply is Abundant, and there is No Reason for High Oil Prices

by George Belekos, KPI Bridge Oil
Thursday October 9, 2014

The bears are out in force making easy meals of all the bulls, something bunker buyers have been dreaming about for several years. 

Finally, the people betting on higher oil prices are starting to get hurt. 

In fact a nameless competitor was forced to issue a profit warning for betting that prices would increase. In our best Nelson from The Simpsons voice, "Ha,Ha!"

Meanwhile everyone should be watching avails in their particular port and waiting as long as possible before stemming bunkers. Keep watching the prices go down. 

Fundamentally, nothing seems to be changing, demand is weak, supply is abundant and there is no reason for high oil prices.