Oil Markets Start the Week Stable

by Marisa McGuire, KPI Bridge Oil
Monday March 31, 2014

Stability was the main feature of the oil markets today with WTI down $0.09 bbl and Brent down $0.31 bbl.  WTI and Brent continue to converge as Brent declined slightly more than WTI today.

The main reason for the decline was that both the US and Russia agreed that there needs to be a diplomatic solution to the crisis in the Ukraine. 

This had prices down close to a dollar for most of the day till Ms. Yellen opened her mouth and decided that the US economy will need more support going forward.

Bunker prices were stable in the primary ports. 

It is not unreasonable to expect Brent and WTI to continue to converge and end up somewhere between the two benchmarks over the next couple of months.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com