Crude Prices Jump 2%

by Tim Bonett, KPI Bridge Oil
Wednesday February 14, 2018

There was build in crude inventories today, though not as much as expected, and benchmarks gained more than 2%.

US inflation figures gave oil a headwind throughout the morning as the dollar gained steam but later the Saudi oil minister confirmed that OPEC would be sticking to the supply cut deal despite the US ramp up.

Refinery rates did fall for seasonal maintenance but despite this the US is on pace for record production this month.

Bunker prices were firmer in the primary ports.

WTI MAR $60.60/BBL UP $1.41/BBL
Brent APR $64.40/BBL UP $1.61/BBL

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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