WTI Trades Flat as Brent Pressured by Ukraine Tensions

by Tim Bonett, KPI Bridge Oil
Tuesday June 10, 2014

Oil investors were hesitant to cash in on yesterday's rally with the weekly EIA report looming on the horizon.

Analysts expecting crude supplies to fall by nearly 2 million barrels had WTI trading higher early morning but investors followed by running with profits and leaving WTI near flat by days end.

Brent was pressured as the tensions out of Ukraine seem to be dissipating on news of a possible cease-fire in the eastern portion of the country.

Keep an eye out for news coming out of the OPEC meeting in Vienna tomorrow.

It is anticipated that the OPEC production target of 30 million barrels a day will remain unchanged.

By the end of the session Brent fell $0.47/bbl to 109.52/bbl. WTI slipped $0.06/bbl to $104.35/bbl. Bunker prices were stable 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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