Crude Benchmarks Rise Despite Gloomy Jobs Report

by Tim Bonett, KPI Bridge Oil
Wednesday February 5, 2014

WTI was able to shrug off a less than encouraging jobs report today as the EIA's inventory report was in line with analysts expectations.

U.S. companies hired less employees than anticipated last month sending equities south but oil investors were not fazed as crude stockpiles grew and distillates inventories fell to near anticipated levels.

Refinery utilization was down 2.1% from last week as they continue to wind down for maintenance.

At the end of the session WTI had gained $0.19/bbl, settling at $106.25 while Brent rose $0.47/bbl, finishing the day at $106.25. Bunker prices were stable 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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