WTI Under Pressure as US Crude Inventories Expected to Rise

by Tim Bonett, KPI Bridge Oil
Tuesday February 25, 2014

WTI was under pressure today as the market anticipates tomorrow's EIA data and the continued rise in US crude inventories despite the expected draw at Cushing, the NYMEX delivery point for WTI.

The US consumer confidence index fell in February increasing concern that economic growth may slow, pressuring broader indexes along with WTI.

Outside of the US, China's central bank is reducing funds from the financial system in an effort to clean up risky lending practices.

The currency of the yuan fell it's farthest in three years to the dollar.

At the end of the session WTI dipped $0.99/bbl to $101.83 while Brent fell $1.13/bbl to $109.51/bbl. Bunker prices were stable to soft 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.

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