Bunker Markets Confused as Energy Markets Make Mixed Movements

by George Belekos, KPI Bridge Oil
Monday March 23, 2015

The energy markets were mixed today with WTI heading higher, while Brent ended lower, for the first time in the past three trading days.

The early weakness in US dollar, continuing from yesterday, pushed WTI higher early in the day and kept Brent in the green, despite the disappointing Chinese data that showed a slowing factory activity.

Later in the day, unexpected positive house sales in the US and manufacturing index helped the US dollar rebound and pushed oil prices lower.

WTI settled up $0.07/bbl while Brent slid lower $0.77/bbl leaving bunker markets confused and all over the place.  

Supply is still very strong with Saudi Arabia pumping oil in a record pace and the US crude stockpiles increasing on a weekly basis for the past 4 months.

Soft bunker markets in the near future seem to continue despite any short term spikes.

Today prices were stable at the main bunkering 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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