Crude Jumps 4% as US Stockpiles Sink

by Tim Bonett, KPI Bridge Oil
Wednesday September 16, 2015

The largest US crude drawdown in Cushing over the past 7 months had crude benchmarks surging this morning.

The stockpile reduction of 2.1 million barrels was in stark contrast to the markets forecast of a 1.2 million barrel build.

Further support came from the second straight week of import declines and an upswing in refinery activity.

As a result WTI and Brent ended the day up over 4% from the previous session.

Bunker prices were quite firm 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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