Volatility, Falling Oil Prices Continue

by George Belekos, KPI Bridge Oil
Thursday July 7, 2016

The volatility continued today with a less bullish EIA report as the catalyst for today’s oil drop. 

Early in the day prices were rising with speculators anticipating a much larger draw in the US reserves and that combined with a strong dollar and the continuous fear about global economies caused oil benchmarks to collapse.

WTI settled at $45.14 per barrel, the lowest in the past two months.

During this short week WTI has dropped more than 8% in just the past 3 days.

Bunker markets closed the day soft.

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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