July Ends With Another Uptick in Oil Prices

by Tim Bonett, KPI Bridge Oil
Monday July 31, 2017

Crude benchmarks began the week but ended the month on another uptick in prices.

During July, WTI gained 9% while Brent rose 10% marking the largest monthly gain for both in 2017.

After early morning choppy trade WTI went on a bit of a surge toward the closing bell.

There are still sanctions possible on Venezuela oil which would impact supplies to the US.

Inventory declines, production curb commitments and geopolitical tensions is just the recipe the bulls have been looking for.

Bunker prices were firmer in the primary ports.

WTI Sept $50.17/BBL UP $0.46/BBL
Brent Sept $52.65/BBL UP $0.13/BBL

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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