Crube Benchmarks Fall After Manufacturing Indexes Receded

by Tim Bonett, KPI Bridge Oil
Monday February 3, 2014

Benchmarks on both sides of the Atlantic fell today as manufacturing indexes for both the U.S. and China, the top two oil-consuming nations in the world, receded on slumping January orders.

The U.S. figure was most damaging as the Institute for Supply Management reported a figure far lower than investors had been anticipating.

Equities also retracted on the signs of a slowing global economy while the Fed plans on continuing the reduction of the stimulus package.

When the dust settled WTI had lost $1.06/bbl, ending the day at $96.43/bbl while Brent slipped $0.36/bbl finishing the day at $106.04/bbl. Bunker prices were stable to soft 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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