WTI, Brent Spread Continues to Narrow

by Marisa McGuire, KPI Bridge Oil
Wednesday June 4, 2014

Not a lot of volatility in the markets today as Brent closed down only $0.42 bbl and WTI $0.02 bbl. 

The spread between WTI and Brent also continues to narrow as inventories in Cushing, OK continue to decline and are five year low. 

Bunker prices however, remain very stable as resupply costs have not go down in the major ports. 

Inventory details were released this morning, crude declined more than expected, but gasoline, heating oil and refinery utilization were up more than expected. Keeping the report largely inconsequential. 

With low volatility in the energy and equity markets there are a lot of concerns that the markets might be overbought and headed for a correction. 

Bunker buyers should be cautiously optimistic that markets may go lower soon.

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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