Oil Prices Mixed on Political Unrest

by Marisa McGuire, KPI Bridge Oil
Monday April 28, 2014

Oil prices were mixed today as Brent lost over a dollar a barrel and WTI increase a little less than a quarter per barrel. 

The mix signals were caused by further expansion of sanctions against the various Russian characters the United States sees as influential in slowing/stopping the standoff in the Ukraine and an end to force majeure in the Libyan port of Zueitina. 

With force majeure ending many expect exports to resume quickly in Libya which has been a key supplier of high quality crude oil to Europe for many years. 

The sanction list was also not as extensive as many expected which was a major reason why the market did not increase substantially. 

Once again geo-political events are adding to the premium bunker buyers are facing. 

Markets were mostly stable to soft today, but until the situation in the Ukraine is sorted, prices are more likely to increase substantially than decrease.

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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