WTI and Brent Crude Oil Prices Plummet

by George Belekos, KPI Bridge Oil
Tuesday September 2, 2014

AHAHAHAHAH….WTI and Brent crude oil prices fell off a cliff today as NYMEX traders returning from their Chateaus' in the Hamptons realized that they needed to sell off their positions to cover the bar bill from this past Labor Day weekend. Okay, really what happened is the same old story:

1) Slow growth from FE countries like China
2) Dollar firmed against the Euro
3) Geo-political ticker being watched, but no new supply disruptions, at least nothing too impactful
4) Hurricane season in the US Gulf quiet thus far =  no platform closures or refinery shutdowns

Some talking heads are calling for a "large percentage correction in the crude oil markets" near term. Bunker buyers can only hope that true supply & demand fundamentals take hold so that we can push the bunker barrels straight off the cliff!

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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