Oil Prices Start the Week Down

by Tim Bonett, KPI Bridge Oil
Monday February 23, 2015

The crude market was in search of direction today as rumors of an emergency OPEC meeting had prices up to start the day.

However, by the end of the session prices were down as the familiar pressures remain.

Further to this the dollar was strong today making oil unattractive.

Some think the bottom may be set at $45 for WTI and $55 for Brent but the slow drop in the oil rig count coupled with continued larger inventory figures may test this theory sooner rather than later.

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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