Bunker Prices Stable as Crude Makes Gains

by Tim Bonett, KPI Bridge Oil
Thursday May 29, 2014

A strong start to the summer driving season boosted WTI today as the EIA inventory data released displayed a significant draw on gasoline inventories.

Despite the rise in crude stockpiles, draws on distillates and Cushing inventories brought out the bulls.

In broader economic news, U.S. jobless claims fell more than expected while the economy contracted more than expected in the first quarter.

Investors continue to monitor the situation in Ukraine as Pro-Russian rebels downed a military helicopter in eastern Ukraine.

By end of the session WTI had gained $0.86/bbl settling at $103.58/bbl while Brent gained $0.16/bbl finishing the day at $109.97/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.

To contact the editor responsible for this story email us at editor@shipandbunker.com