WTI, Brent Both Make Gains on Wednesday

by Nick Bond, KPI Bridge Oil
Wednesday November 13, 2013

Crude markets on both sides of the Atlantic rose today, driven by the move gasoline prices made and continued disruptions in Libyan exports. 

Brent found support today on news that a tanker at Libya's Hariga port was stopped from loading, spooking investors that more exports from the nation could be stopped or delayed. 

In the states, WTI was driven higher as gasoline prices rose on news that gasoline stockpiles dropped last week. 

Additionally, investors are anticipating demand to pick up as refiners bring units back online following seasonal maintenance. 

Attention now shifts to tomorrow's report from the EIA, which many analysts are anticipating will show a rise in crude stockpiles but a draw in gasoline inventories.

The report should help to paint a better picture of the direction supply and demand could go. 

WTI climbed $0.84 by settlement to end the session at $93.88/bbl, while Brent gained $1.31 to settle at $107.12/bbl. Bunker prices 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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