WTI Hits its Highest Level of 2014

by Tim Bonett, KPI Bridge Oil
Thursday January 30, 2014

Today the Commerce Department reported that U.S. GDP grew 3.2 percent in the fourth quarter propelling WTI to its highest level of 2014.

The GDP growth was on par with analysts expectations and is a sign that the economy continues to improve.

As a result, equities were positive and WTI followed suit.

The cold weather gripping the eastern half of the country continues to drive demand on U.S. distillates as consumption surged 20 percent last week to the highest level since 2008.

By the end of the session WTI had gained $0.87/bbl, to $98.23 while Brent rose $0.10/bbl, settling at $107.95. 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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