Crude Benchmarks in the Red After Early Gains

by Tim Bonett, KPI Bridge Oil
Monday May 9, 2016

Crude benchmarks were up in early morning trading but finished in the red, falling nearly 3% from Friday's settlement.

The market was able to shrug off the Canadian wildfires that are keeping nearly 1 million barrels per day from export as inventories are still expected to rise.

China also produced weak demand figures over the weekend putting further pressure on prices.

We expect to see continued volatility in the near term.

Bunker prices were softer in the primary ports as the day wore on.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com