Crude Up as Sanctions Against Russia "Deepen and Broaden"

by Tim Bonett, KPI Bridge Oil
Thursday September 11, 2014

Traders realized there were profit$ to be made today and the US decided to "deepen and broaden" sanctions against Russia which provided the boost WTI was looking for.

However, demand continues to lag behind the supply situation and despite the geopolitical tension possibilities the bump seen in crude today is not anticipated to be sustained.

The Paris-based IEA projected a decrease in oil demand in China and Europe. Bunker prices were stabling in the primary ports.

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