Crude Futures Start the Week with Heavy Volatility

by Mohammed Marzuq, KPI Bridge Oil
Monday July 13, 2015

Crude futures saw heavy volatility today but nonetheless settled softer since last close.

Brent front-month contracts for August delivery were down nearly $2.00 earlier in the day but made a comeback and settled $0.88 cents lower since the last close.

We expected the ICE market to tank completely today but it seems that Iran will need some more time before they come to an agreement on the nuclear deal.

On the western front we saw WTI contracts for August delivery soften $0.54 cents settling at $52.50 per barrel.

The next few days should be interesting as we near US crude inventories stats for last week, one can expect the market to swing either way especially now that there has been some agreements made in the Mediterranean.

Bunkers were softer today in the early stages of the trading day but as the market crept towards the green suppliers started to pump their breaks a bit.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com