Crude Benchmarks Make Gains on Monday

by Tim Bonett, KPI Bridge Oil
Monday February 24, 2014

WTI was supported today as another draw on crude supplies at Cushing is expected when this weeks EIA data is released.

Equities also bolstered WTI as investors seem to be betting that the economy will not be hindered as the Fed continues to reduce the bond-buying program.

Reported production outages in Libya and Sudan and expected tighter global supply boosted Brent today.

When the day had come to an end, WTI settled at $102.82/bbl up $0.62/bbl while Brent settled at $110.64/bbl, gaining $0.79/bbl. Bunker prices were stable in the primary ports.

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