Oil Prices Continue to Correct, Iraq Conflict Yet to Impact Global Supply

by George Belekos, KPI Bridge Oil
Thursday June 26, 2014

Oil prices continued to correct today as the global supply situation has yet to be affected by the situation in Iraq.

The Oil Minister announced that crude exports are expected to increase next month out of Iraq sending a signal that the government is still well in control and expects to be in the future.

Closer to home, gloomy economic indicators piggybacked yesterday's inventory report presurring WTI.

U.S. consumer spending rose less than expected last month and expectations for growth this quarter may need to be revised.

By the end of the session WTI slipped $0.66/bbl to $105.84/bbl. Brent fell $0.79/bbl to $113.21/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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