WTI Falls Back from Four-Month High

by Tim Bonett, KPI Bridge Oil
Thursday February 20, 2014

WTI retreated today after reaching a four-month high yesterday as U.S. crude inventories climbed with no clear signs that demand is growing.

Gasoline stockpiles climbed while analysts had been expecting a draw and the distillate inventory decline came up well short of the levels the market anticipated.

The Chinese manufacturing index slipped to its lowest level in seven months also pressuring both indexes as it remains at a contraction level for the world's second-largest oil-consuming country.

By day's end WTI had retracted $0.39/bbl to $102.92, while Brent fell $0.17/bbl to $110.30/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.

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