Inventories Decline for 6th Straight Week

by Tim Bonett, KPI Bridge Oil
Wednesday June 29, 2016

A 6th straight week of declining inventories boosted oil back up to and over the $50/bbl threshold.

A larger than expected draw helped spurn the rally along with a looming labor strike from the North Sea's largest oil producer.

Some speculators believe fundamentals have prices at near peak levels but uncertainty and volatility will be a mainstay.

Bunker prices continued on yesterdays momentum and were firm 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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