Crude Benchmarks Slip

by Tim Bonett, KPI Bridge Oil
Thursday September 28, 2017

Tensions in the Middle East were not enough to bolster crude today as both benchmarks slipped.

Iraqi Kurdistan voted in favor of independence while Turkey's government warned of possible use of force to prevent an independent Kurdish state.

Meanwhile, the oil market feels overbought with, most likely, a correction coming.

The ramp up of price over the past two weeks has put oil positioned for a bit of a pullback and buyers should be ready to take advantage.

Bunker prices were a bit softer in the primary ports.

WTI Nov $51.56/BBL DOWN -$0.58/BBL
Brent Nov $57.31/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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