Crude Benchmarks Rebound

by Tim Bonett, KPI Bridge Oil
Tuesday January 7, 2014

Employment data out of Germany had crude benchmarks rebound on both sides of the Atlantic today.

German unemployment figures fell for the first time in five months signaling confidence in Europe's largest economy.

Increasing tension out of the Middle East also supported Brent as the Iraqi government vows to regain control of alleged al-Qaeda controlled towns.

In the U.S., investors found comfort in energy markets as frigid temperatures across most of the country signaled a rise in demand.

The market now await tomorrow's EIA report that is expected to show a 3 million barrel draw on crude from last week's figures.

WTI ended the day at $93.67/bbl, up $0.24/bbl. Brent followed suit ending the session at $107.35, rising $0.62. Bunker prices remained 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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