Crude Prices Remain Soft

by George Belekos, KPI Bridge Oil
Tuesday February 6, 2018

Equity markets began the day where they left off yesterday but rebounded in the afternoon hours in an extremely volatile session.

The strength of the dollar continues to weigh on oil markets and pushed both Brent and WTI indexes lower for a third consecutive trading day.

API reported a draw of 1.05 million barrels vs an expectation for a built of approx. 2.5 million barrels.

This could be a supportive factor for oil prices provided that it is confirmed tomorrow also by EIA.

Bunker prices were softer in all major ports.

WTI MAR $63.39/BBL DOWN -$0.76/BBL
Brent APR $66.86/BBL DOWN -$0.76/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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