Bullish EIA Report Sends Crude Prices up 4%

by George Belekos, KPI Bridge Oil
Wednesday May 10, 2017

Crude prices soared 4% today as the EIA gave quite a bullish report.

Crude inventories fell more than twice the expected amount and imports fells.

Demand for distillates rose and gasoline stocks did not rise nearly as much as expected.

Prices will continue rely on the numbers heavily rather than comments and today proved this.

The ripple effect of today's figures into global inventories though remains to be seen.

Bunker prices were firmer in the primary ports.

WTI June $47.33/BBL UP $1.45/BBL
Brent July $50.22/BBL UP $1.49/BBL

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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