U.S. Oil Market Rebounds

by Tim Bonett, KPI Bridge Oil
Tuesday January 14, 2014

The U.S. oil market was hungry for a rebound today as positive news on the macroeconomic level had investors feeling bullish on crude.

Today U.S. retail sales data reported higher than expected December figures which supported broader indexes and lured WTI up along with them.

Investors will be looking to tomorrow's EIA report for a direction in the market which is expected to show a 1.3 million barrel draw on crude stockpiles.

Brent slipped after National Oil Corp. announced they had met the demands and relieved the pressure of protesters who threatened to cut off the supply of the newly reopened Sharara oil field in Libya.

By the end of the session WTI gained $0.79, settling at $92.59. Brent slid $0.36, ending the day at $106.39. Bunker prices were stable in the primary ports.

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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