Crude Prices Trade on Shaky Ground to Start the Week

by Tim Bonett, KPI Bridge Oil
Monday January 30, 2017

Friday's oil rig count had crude prices trading on shaky ground to start the week.

The number of US oil rigs continues to rise signaling domestic production won’t be slowing while initial OPEC numbers show 75% compliance with the targeted cuts.

The market is weary that the gap between global cuts and domestic production is narrowing quickly.

At this juncture, it will be difficult for prices to get to $60/bbl without a shock to the market.

Bunker prices were softer in the primary ports.

WTI March $52.63/BBL DOWN -$0.54/BBL
Brent March $55.23/BBL DOWN -$0.29/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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