Crude Up as ECB Cuts Rates

by Tim Bonett, KPI Bridge Oil
Thursday September 4, 2014

The EIA report released today was a ho-hum moment for crude traders as the European Central Bank pulled benchmarks south.

The unexpected cut of rates by the ECB brought the Euro to a 14-month low against the dollar making commodities unattractive to investors.

Although the EIA report reflected a draw on stockpiles as expected, the demand outlook is not warm and fuzzy.

Refiners will continue to wind down utilization rates in preparation for maintenance slowing the demand for crude and weighing on prices.

Bunker prices were softer 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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