Brent Falls Again After Another Volatile Day

by Mohammed Marzuq, KPI Bridge Oil
Wednesday January 13, 2016

Crude front month contracts for February delivery saw another day of volatile trading.

Early in the day both ICE and NYMEX contracts were firm more than $1.00 per barrel, but were quickly curbed as EIA data showed last week’s stock builds.

U.S commercial crude inventories saw smaller gains with respect to the builds we have witnessed the last several weeks, roughly 300k barrels.

The driving factor was the massive builds in gasoline and distillates.

Gasoline stocks grew by another 8.44 million barrels last week, while distillates grew by 6 million barrels.

Brent contracts took their first dip below $30.00 per barrel, but was able to come back and settle at $30.31 per barrel, down $0.55 cents from yesterdays close.

WTI ended the day flat to yesterdays close.

Bunkers were mixed today but the general outlook is soft.

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