It was another chaotic trading session in the oil market. The International Energy Agency deemed demand will not keep up with supplies in 2018 sending Brent to a two-month low.
However, traders saw an opportunity to buy on the low and Brent regained its opening price by days end.
Keep an eye on tomorrow EIA report which may show builds.
The US is expected to reach the 11 million BPD threshold by 2019.
Bunker prices were mostly stable in the primary ports.
WTI MAR $59.19/BBL DOWN -$0.10/BBL
Brent APR $62.79/BBL UP $0.20/BBL
Tim Bonett, Broker & Trader, KPI Bridge Oil