Crude Futures Make Upward Momentum

by Mohammed Marzuq, KPI Bridge Oil
Thursday June 18, 2015

Crude futures continued to rise today following yesterdays momentum.

The NYMEX and ICE markets were driven by the U.S dollar which lost its position compared to other currencies specifically the Euro.

Seems that a near closed deal sealed the fate of Greece which ultimately lifted the burden on the Euro making commodities backed by dollar cheaper for holders of other currencies.

Further driving down the green-back was U.S Federal Reserve deciding that they would not hike interest rates.

Brent front month contracts for August firmed $0.39 cents settling at $64.26 per barrel.

WTI contracts for July spiked $0.45 cents settling at $60.45 by the end of the trading day.

Bunkers were steady today 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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