Crude Futures Firm Despite Soft Start and Iran Deal

by Mohammed Marzuq, KPI Bridge Oil
Tuesday July 14, 2015

Crude futures firmed today after the U.S dollar softened on unexpectedly lower retail sales in the United States.

When the dollar falls it makes it more attractive for buyers of other currencies to buy commodities traded in U.S currency.

This comes despite the fact that history was made in Vienna regarding the Iran deal, many speculators were expecting the market to decline heavily, when the opposite occurred.

WTI front month contracts for August firmed $0.84 cents settling at $53.04 per barrel after seeing lows near $51.00.

Brent front month contracts firmed $0.66 cents settling at $58.51 per barrel. Bunkers are higher today 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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