Crude Makes Mixed Movements on Thursday

by Tim Bonett, KPI Bridge Oil
Thursday March 20, 2014

The dollar rose today, following yesterday's announcement from the Fed that bond-buying had been cut once again, putting additional pressure on WTI after this week's EIA data showed there remains ample supply of crude.

The rise of the dollar was the main driver, making commodities such as oil unattractive. Economic data was mixed as jobless claims rose but factory activity accelerated.

Brent, to the contrary, increased as the US imposed more sanctions on Russian officials and a Russian bank.

The sanctions are intended to impact Russia economically and have peaked interest to crude supply disruptions to Europe.

By the end of the session WTI retreated $0.94/bbl settling at $99.43/bbl. Brent gained $0.60/bbl, finishing the day at $88.83/bbl. 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.

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