Oil Markets Move Higher on Thursday

by George Belekos, KPI Bridge Oil
Thursday March 27, 2014

Oil markets moved higher today with WTI settling in two weeks highs on speculation that Cushing, Oklahoma, supplies decreased for eighth consecutive week, in two years lows.

Another supportive factor for both Brent and WTI was the "Crimea" geopolitical risk and the so much discussed sanctions against Russia. 

Of course speculators ignored the fact that total commercial crude oil inventories are in the upper limit of the average range for this time of the year, as well as demand fundamentals, such as the eighth straight month of decline in existing home sales and the declining consumer sentiment in the US to a seven week low.

Bunker prices were firm in all major 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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