Crude Oil Continues to Fall

by Mohammed Marzuq, KPI Bridge Oil
Thursday July 23, 2015

Crude oil continued it's fall today consistent with yesterday's momentum where EIA data stated there had been a 2.5 million barrel build in U.S crude inventories.

Early in the day the U.S dollar softened on Greece's second reform news, this ultimately  made crude oil cheaper for holders of other currencies.

This, however, did not last long after the U.S Labor reports indicated that unemployment benefits in the USA had fallen to levels not seen since the 1970's firming the green back.

Both the ICE and NYMEX markets ended up in the red by the end of the trading day.

Brent contracts for September delivery fell $0.86 cents per barrel while WTI fell $0.74 cents per barrel.

Bunkers were soft 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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