Oil Prices Start The Week Mostly Flat

by Marisa McGuire, KPI Bridge Oil
Monday March 24, 2014

Oil prices were mostly flat by the end of the day today with WTI up $0.14 bbl and Brent down $0.11 bbl. 

The big news was the closure of the Houston Ship Channel. 

The channel was closed over the weekend when a barge and a bulk carrier collided resulting in a spill of approximately 4000 bbls of fuel oil. 

The waterway has been closed since Saturday and is expected to remain that way possibly through the weekend. 

Additionally, speculators are watching to see if sanctions are forced upon Russia's energy sector, though many talking heads do not see this as realistic. 

We are basically in a holding pattern for oil prices, with the only thing keeping them up being geo-political turbulence. 

It would not be unreasonable if prices were declining by the end of the week.

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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