Crude Oil Prices Soften as US Stockpiles Rise

by Marisa McGuire, KPI Bridge Oil
Wednesday April 30, 2014

The stars were aligned during the days trading for a sell off in residual fuel prices. 

Crude oil prices softened due to a US stockpile rise, increased exports from Libya, and a weak outlook on US economic growth. 

No question about it, this is a buying opportunity for bunker purchasers. We view this as a one day dip in an otherwise steady to firm bunker fuel arena.

We are coming into May and warmer weather in the US. After being indoors all winter, Americans are sure to take to the roads for summer driving season.

Exports are up from Libya today and next weeks news could be Iran threatening to block the Straight of Hormuz.

A shrinking GDP in the US for the first financial quarter is being reported, yet US equities finished higher today, and the US real-estate market is selling near highs that have not been seen in years. 

Take advantage of the pull back and don’t look back.

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