Crude Benchmarks Firm

by Tim Bonett, KPI Bridge Oil
Thursday March 6, 2014

WTI was pressured for most of the day as yesterday's crude inventory levels weighed on investors but the benchmark rebounded when it was reported that fewer Americans filed for unemployment benefits than projected last week.

The US Labor Department's jobless claims report fell to its lowest level since November boosting equities and pulling WTI into positive territory just before the session concluded.

Meanwhile, President Obama said at the White House today that the US will continue to put pressure on Russia to back out of Crimea, leaving the possibility of further sanctions.

WTI settled at $101.56, gaining $0.11/bbl while Brent finished the day at $108.10, increasing $0.34/bbl. Bunker prices were stable 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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