Rollercoaster Ride for Crude as Inventories Continue to Build

by George Belekos, KPI Bridge Oil
Wednesday March 4, 2015

It was a rollercoaster ride of a day for crude as inventories continue to build while the belt tightens on oil capital investment.

The EIA reported that crude stocks rose more than double the expected amount.

This along with a stronger dollar had put heavy pressure during the morning trading hours.

However, the Federal Reserve noted that it expects cuts in capital expeditures in the oil and gas industry due to low energy prices.

This news coupled with the expectation of balanced supply and demand coming from the Saudi Arabian Oil Minister had benchmarkes recovering quite impressively by days end.

Volatility remains to be the only consistent trend.

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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