Small Gains for Crude After a Day of Choppy Trading

by Tim Bonett, KPI Bridge Oil
Wednesday May 3, 2017

A mixed inventory report gave way to choppy trading today but crude prices ended the session slightly positive.

The crude draw was not nearly as much as expected while the gasoline build was underwhelming, leading to fair amount of volatility.

Other than US production, market eyes are on OPEC producers and their output figures.

A shining light came from nonmember Russia which announced today that it met its total BPD reduction cut 1 month ahead of schedule.

Bunker prices were stable in the primary ports.

WTI June $47.82/BBL UP $0.16/BBL
Brent July $50.79/BBL UP $0.33/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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