October Ends a Good Month for the Oil Bulls

by George Belekos, KPI Bridge Oil
Tuesday October 31, 2017

October was a good month to the bulls.

Brent rose 6.6% during the month reaching and end of month level not seen since July 2015.

WTI is not far behind gaining 5.2% this month nearing a high for 2017.

However, the benchmark spread continues to widen as WTI is pressured by the prospect of increasing US exports and overall production.

The market is expecting draws for crude stockpiles tomorrow when the EIA releases its weekly report.

Bunker prices were again firming 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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