WTI Continues to Firm

by Mohammed Marzuq, KPI Bridge Oil
Thursday February 18, 2016

Crude futures were firm through out the day following yesterdays rally on news that Iran would support a production freeze.

Both Brent and WTI front month contracts surged after API analysis indicated a draw of 3.3 million barrels.

Once official EIA data confirmed that U.S crude inventories incurred a build of 2 million barrels, crude prices were quickly reversed.

Brent contracts for April delivery settled down $0.22 cents while WTI March contracts settled up $0.10 cents per barrel.

Bunker prices were mixed today in the primary ports but the overall consensus of the bunker market has been trending upward.

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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