Oil Prices Up as Libyan Production Lowers

by Marisa McGuire, KPI Bridge Oil
Thursday April 3, 2014

Production being down in Libya was the main reason for the increase in oil prices today. 

While it does not take "the big brain on Brad" to figure that out, it seemed to be a shock to the oil market. 

Figures indicate that Libya is producing 250K barrels less than they had a year ago. 

Recently, it has been speculated, that one of four oil ports under rebel control would be given back to the government, now a deal does not seem to be in sight. 

It has been a while since we have seen this kind of volatility in the oil markets. 

As such we should expect it going forward and through the balance of the summer. 

Jobless claims were worse than expected here in the USA which was largely ignored. 

Bunker prices are moving up with higher resupply costs for suppliers.

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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