Crude Futures Continue to Crash

by Mohammed Marzuq, KPI Bridge Oil
Thursday June 4, 2015

Crude futures crashed today on worries that Euro-Bond yields could have a firm grip on money invested in the commodity markets; specifically crude oil.

Also driving down the market is tomorrows OPEC meeting in Vienna which has speculators frantically worrying that current production levels will hold fast and there will be continual abundance of oversupply globally.

WTI softened nearly 3% settling at $58.00 per barrel.

Brent futures also cooled nearly 3% settling in at $62.03 per barrel.

Bunkers were steady in the primary ports as suppliers are trying to hold on to higher prices as long as possible.

We are keeping our fingers crossed that this becomes a trend and we continue to see oil decline.

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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