Crude Makes Gains Despite Build in Crude Supplies

by Tim Bonett, KPI Bridge Oil
Thursday February 23, 2017

As expected it was a 7th consecutive week of builds in crude supplies but the number wasn't nearly as daunting as anticipated.

Both gasoline and distillates experienced significant draws leading oil prices restore what was lost in yesterday's trading.

While OPEC is nearly maxing compliance there is concern that oil prices may be at a ceiling.

If prices are to continue higher there will need to be hard figures to back up compliance claims.

Bunker prices were firmer in the primary ports.

WTI March $54.45/BBL UP $0.86/BBL
Brent April $56.58/BBL UP $0.74/BBL

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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