Highest Percentage Gain for Crude in Over 2 Years

by George Belekos, KPI Bridge Oil
Wednesday January 14, 2015

Crude benchmarks closed up by the highest percentage in more than 2 years today allowing some to claim that we have finally reached a bottom!

Not so fast.

Today's bounce was mostly due to technical factors as crude inventories continue to build.

In fact, the inventory build was even higher than anticipated when released today.

There was also not much encouraging news coming out of the economic sector as the World Bank cut its global economic outlook.

This slight recovery does not seem poised to last.

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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