WTI Makes Gains for a Fifth Straight Trading Day

by Tim Bonett, KPI Bridge Oil
Monday February 10, 2014

WTI gained for a fifth straight trading day as speculation that last month's introduction of supplies to the US Gulf via the Keystone XL link has significantly reduced stockpiles at the Cushing Oklahoma delivery point.

Analysts are predicting another 1.5 million barrel draw when the EIA reports its weekly figures.

Brent was under pressure today due to a report released on expanding production from Libya, Africa's largest reserves location.

By the end of the session Brent had slipped $0.94/bbl settling at $108.63, while WTI gained $0.18/bbl finishing the day at $100.06/bbl. Bunker prices were firming in the primary ports.

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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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