Oil Prices Continue to Decline

by Tim Bonett, KPI Bridge Oil
Wednesday September 10, 2014

Oil prices continued their decline today with Brent now situated comfortably below $100 bbl. 

Brent has also moved into a contango condition valuing future barrels more than current. 

This is something we have not seen for a long time in the market. 

This could stimulate tanker demand and oil traders storing for future dates.

WTI remains in backwardation which is unlikely to change near term. 

Bunker prices were softer in the primary ports. 

So long as this trend holds bunker buyers should be holding purchases as long as possible keeping appraised of avails and congestion for the ports in question.

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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