Crude Prices Continue to Fall

by George Belekos, KPI Bridge Oil
Wednesday December 3, 2014

The bears are back and it looks like they are here to stay, near term.

The Saudi’s are “looking for $60/bbl Brent crude oil” and Exxon announced that they “could be tested to as low as $40/bbl.”

US light sweet crude oil firmed a bit today on news of a draw of inventories at Cushing, but we believe that will be short lived.

There will be volatility on this ride down the chimney, but the gravity of the situation is that the big oil producers are pushing for this to happen.

Bunkers were mostly stable 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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