Crude Futures Rally, Greek Default Could Put Downward Pressure on European Economic Data

by Mohammed Marzuq, KPI Bridge Oil
Tuesday June 30, 2015

Crude futures rallied today following yesterdays soft market. 

Brent front-month contracts for August firmed to $1.59 settling at $63.60 per barrel, while WTI August contracts spiked up $1.14, settling at $59.47 per barrel.

We can expect that speculators will be driving the market with a Greek default and capitol controls in sight which could put downward pressure on European economic data.

Bunkers were fairly firm today in the primary ports, but it’s going to be a volatile ride, stay tuned.

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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