Crude Prices Firm as Saudi Arabia Cuts Supply Output

by Tim Bonett, KPI Bridge Oil
Thursday October 23, 2014

WTI and Brent crude oil prices firmed today on news that Saudi Arabia has cut their supply output and positive economic news from Europe and Asia.

We believe that there will be volatility for the energy complex in both directions near term.

A linear price progression back to $100/bbl is not in the cards with many OPEC nations disagreeing on where current price levels should be per barrel.

Bunker buyers should continue to purchase as far out as possible.