WTI Settles in the Red

by Tim Bonett, KPI Bridge Oil
Wednesday July 30, 2014

We are making the turn for August and in peak summer driving season yet gasoline inventories rose for a fourth straight week.

This had WTI settling in the red today despite a draw on crude and an early morning rally.

Traders felt the market for Brent today is also well supplied and the fuel demand outlook is not so bright.

Buyers should continue to keep an eye on the situations in Russia and Iraq as the market will be looking for a reason to tighten.

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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