Crude Futures Make Mixed Movements After Heavy Volatility

by Mohammed Marzuq, KPI Bridge Oil
Tuesday July 7, 2015

Crude futures were mixed today as both the Nymex and ICE markets saw heavy volatility.

WTI front-month contracts for August settled $0.20 cents lower than yesterdays close while surprisingly, Brent August contracts firmed $0.31 cents after falling nearly $2.00 per barrel during the trading day.

Ultimately the Iran talks and current Greek situation has undoubtedly led to a sell off.

It should be noted that the price hike's these past few months have enticed US crude producers to put some rig operations back online.

Bunkers were softer today but it seems that buyers are waiting for the dust to settle before taking positions.

US stats will come out tomorrow and could possibly add additional fuel to the fire.

We would advise buyers to keep a close eye on the market as this whole situation has caught everyone off guard.

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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