Crude Prices Bounce Back

by Tim Bonett, KPI Bridge Oil
Thursday February 12, 2015

A weak dollar had the major crude benchmarks along with the rest of the energy complex moving higher today. 

We saw around a five percent increase, in both crude and gasoil. 

With so much volatility we are seeing suppliers give short validities and make quick adjustments to prices. 

It is not uncommon for us to see a $30 MT swing in 24 hours on IFO in the major ports right now. 

Trouble is, no one can count on that and we could just as easily see crude move into the $40s or the $70s. 

The talking heads currently have a range of $33-$108 for the rest of the year. 

That translates to bunker prices of about $150-$650 MT. 

I do not envy those trying to put together a realistic fuel budget.

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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