Crude Benchmarks Fall as Economic Data Suggests Reduced Demand

by Tim Bonett, KPI Bridge Oil
Monday January 27, 2014

Crude benchmarks fell today as broader economic figures hinted at declining demand in oil.

Waning investor confidence in emerging markets coupled with last week's reported slowdown in China's growth pressured Brent today.

In the U.S., purchases of new homes missed the forecasted level for December.

The results had investors concerned over the strength of the economy while the Fed is about to hold it's regular 2 day meeting to discuss the next step in reducing the stimulus.

By the end of the session WTI had receded $0.92, settling at $95.72/bbl while Brent dropped $1.19/bbl to $106.69. Bunker prices were somewhat soft in the primary ports.

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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