Brent and WTI Head in Opposite Directions

by Brian Coyne, KPI Bridge Oil
Wednesday December 4, 2013

Bunker prices were mostly stable today as Brent and WTI headed in opposite directions and continued to converge. 

The primary impetus was oil inventories coming out much different than expected, with crude declining for the first time in eleven weeks and declining significantly. 

As refineries increased production last week, we saw refined product inventories increase more than expected. 

Refineries along the Gulf Coast increased runs almost seven percent last week to record levels. 

Many of the talking heads believe prices, for WTI, could continue to increase as the export appetite for products continues unabated. 

Near term bunker prices appear to be staying fairly stable, but as we roll into the holiday season and the end of the year inventory drawdowns, in some locations, bunker buyers need to stay vigilant and keep a close eye on the market and their favorite brokers number handy (KPI Bridge Oil of course).

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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