Crude Prices Resume Downward Slide

by Tim Bonett, KPI Bridge Oil
Tuesday December 2, 2014

Crude prices resumed sliding downward as Iraqi and Kurdish governments reached an agreement that sets the stage for an increase in supplies.

The agreement has been made to allow the shipment of 300,000 barrels a day from Iraq to the Turkish port of Ceyhan via a pipeline operated by the Kurds.

The news couldn't come at a worse time for the market given the results of last week's OPEC meeting.

Coupled with yesterday's run-up, traders were looking to take profits today.

Settling prices reflected the bumpy ride we are expecting given the current market conditions.

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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