Crude Falls as Production Figures Offset Stockpile Declines

by Tim Bonett, KPI Bridge Oil
Wednesday August 16, 2017

Today's inventory report showed US crude stockpiles declined last week by the largest amount recorded since September.

The figure released was more than double the decline expected.

However, the market was eventually able shrug off this data and hone in on production figures that continue to creep higher.

US production is now at levels not seen since July of 2015.

WTI shed 1.5% and pulled Brent 1% lower on the trading session.

Bunker price were softer in the primary ports.

WTI Sept $46.78/BBL DOWN -$0.77/BBL
Brent Oct $50.27/BBL DOWN -$0.53/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.

To contact the editor responsible for this story email us at editor@shipandbunker.com