WTI Slips as Stimulus Efforts Set to Continue

by Tim Bonett, KPI Bridge Oil
Tuesday February 11, 2014

New U.S. Federal Reserve Chairman Janet Yellen spoiled any thoughts of a slowdown in the reduction of the stimulus in her first public remarks as Fed Chairman.

Yellen cited a "notable change" needed in the economy to slow tapering.

The EIA report to be released tomorrow is now anticipated to show a build in crude as refinery operating rates continue to decline for maintenance.

Phillips 66 reported it will need to shut 10 units in it's southeast Louisiana based Alliance refinery for 47 days due to mechanical equipment issues.

WTI settled at $99.94/bbl, slipping $0.12/bbl while Brent finished at $108.68, up $0.05/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.

To contact the editor responsible for this story email us at editor@shipandbunker.com