Crude Prices Soft Ahead of Friday Oil Deal Meeting

by Tim Bonett, KPI Bridge Oil
Tuesday September 19, 2017

The market is expecting crude stocks to rise by almost 3 million barrels when the report is released tomorrow.

This sent benchmarks lower today as traders positioned themselves ahead of the move.

However, there is some hope in the market as a meeting is set for Friday between OPEC and non-OPEC members regarding the progress of the supply cut deal.

Bunker prices were somewhat softer in the primary ports.

WTI Oct $49.48/BBL DOWN -$0.43/BBL
Brent Nov $55.14/BBL DOWN -$0.34/BBL