Oil Prices Head Lower

by George Belekos, KPI Bridge Oil
Monday March 27, 2017

Continued skepticism hovering over an output cut extension led the market lower today.

OPEC members met over the weekend but there were no progressive results on the extensions to report which weighed on prices.

US drillers reported increasing oil rigs for a 10th straight week adding further pressure.

Bunker prices were softer in the primary ports.

WTI May $47.73/BBL DOWN -$0.24/BBL
Brent May $50.75/BBL DOWN -$0.05/BBL

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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