Crude Prices Continue to Fall as Investors Anticipate Stimulus Program Reduction

by Nick Bond, KPI Bridge Oil
Tuesday September 17, 2013

Crude prices continued their fall today, as Libya's production continues to rebound and investors anticipate the central bank to reduce its stimulus program.

Oil markets on both sides of the Atlantic fell today, as a director from Libya's National Oil Co stated that the country resumed production at two of its oil fields.

The country also lifted force majeure in two of its oil export locations as conditions improve.

As more oil now flows into the market, and recent agreements calmed the situation in Syria, prices are taking a tumble.

In the United States, investors are awaiting news from the Fed's two-day meeting for any guidance on whether the central bank will begin to taper its stimulus efforts.

Many are expecting the tapering to begin very soon which could strengthen the dollar and put pressure on oil prices.

Eyes are also looking to tomorrow's EIA inventory report for a view of U.S. supply & demand. 

WTI dropped $1.17 today, settling at $105.42/bbl and Brent fell $1.88 to settle at $108.19/bbl. Bunker prices were soft 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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