Tropical Storm Harvey Sends Oil Prices Lower

by Tim Bonett, KPI Bridge Oil
Thursday August 24, 2017

Tropical Storm Harvey pushed oil prices lower today amid concerns over demand for oil with refineries shutting.

However, the opposite effects were seen on gasoline and other refined products as prices rose 3%.

The storm is expected to intensify into a hurricane by the time it makes landfall late Friday evening and slowly dissipate throughout the weekend.

Prices will feel the impact for much longer than that.

Bunker prices were softer in the primary ports.

WTI Sept $47.43/BBL DOWN -$0.98/BBL
Brent Oct $51.98/BBL DOWN -$0.59/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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