Small Movements for Crude Following Yesterday's Big Drop

by Mohammed Marzuq, KPI Bridge Oil
Thursday August 20, 2015

Crude futures remained in check today following yesterdays sell off after EIA data showed U.S. crude stocks incurred a 2.6 million barrel build last week.

The general consensus is that crude prices have yet to bottom and seems that every day there is a new driver pressuring futures prices.

The expiry of WTI contracts for September delivery were up $0.34 cents by the end of the trading day settling at $41.14 per barrel while October Brent contracts fell $0.54 cents per barrel settling at $46.42 per barrel.

Bunker demand has been minimal these past few weeks but certainly softening across the board.

In the grand scheme of things we can expect fuel prices to stay soft especially as we near the end of the driving season.

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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