Oil Prices Fall 2% as Inventories Disappoint

by Tim Bonett, KPI Bridge Oil
Wednesday December 6, 2017

Inventories disappointed and oil prices fell 2% during today’s trading session.

Crude stocks actually fell a bit more than expected though much could be attributed to the abbreviated closure of the Keystone pipeline last month.

However, it was distillates that surprisingly rose and created a hurdle and the subsequent slide.

Prices were susceptible to a sell-off after the recent run up and today's inventory report provided the kickstart.

Bunker prices were softer in the primary ports.

WTI JAN $55.96/BBL DOWN -$1.66/BBL
Brent FEB $61.22/BBL DOWN -$1.64/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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