Brent Crosses $50/bbl Threshold After a Significant Day of Gains for Crude Futures

by Mohammed Marzuq, KPI Bridge Oil
Tuesday November 3, 2015

Crude futures saw significant gains today despite API data stating they are expecting U.S. crude inventories to see a build of another 3 million barrels.

Distillates put pressure on crude prices as the Colonial Pipeline witnessed a shut down due to flooding causing both gas and diesel futures to firm over 4%.

Further driving prices was hostility in Brazils state owned enterprise (Petrobras) as workers went on strike causing output to fall more than 500,000 barrels.

Both Brent and WTI contracts for December delivery settled up 4%.

Bunkers were very firm across the board today.

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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