Brent and WTI Increase as US Production Dips

by Marisa McGuire, KPI Bridge Oil
Wednesday May 7, 2014

Both Brent and WTI increased today. The US Energy Information Administration reported that inventories of crude and heating oil were down and gasoline up. 

The main focus of the energy speculators was that production in the USA was down 2000 barrels per day and thus Cushing, OK inventories down 24 million barrels to their lowest level since November 2008. 

Additionally, pressure continues to be added by the problems in the Ukraine and bunker buyers should beware.  Prices are much more likely to increase significantly than decrease over the near term

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com