WTI Continues to Make Gains

by Tim Bonett, KPI Bridge Oil
Wednesday February 19, 2014

Investors are anticipating another drawdown in Cushing crude supplies as EIA figures will be reported tomorrow, a day late due to Monday's President's Day holiday.

The recent opening of the Keystone XL pipeline's southern leg has reduced the glut of crude at the WTI delivery point while the winter weather has created a demand for distillates, the recipe for the latest ascent of WTI.

Prices were also supported by recent unrest in Venezuela after 4 people were allegedly killed during protests of President Nicolas Maduro.

At the end of the session WTI had gained $0.88/bbl, settling at $103.31/bbl while Brent only gained $0.01/bbl, settling at $110.47/bbl. Bunker prices were firm to 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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