WTI Continues to Fall on Wednesday

by Tim Bonett, KPI Bridge Oil
Wednesday April 2, 2014

WTI slumped again today despite an unexpected drop in U.S. oil inventories which was merely attributed to the closing of the Houston ship channel last week.

Brent tumbled on speculation out of Libya that rebel controlled oil ports would soon be open to exporting crude.

Libyan crude output has fallen to a 10th of its capacity and successful negotiations between the government and rebel forces will return a few hundred thousand barrels of crude to the market, pressuring Brent today.

By the end of the session WTI had slipped $0.12/bbl, settling at $99.62/bbl. Brent fell $0.83/bbl, finishing the day at $104.79. Bunker prices were stable in the primary ports.

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