Crude Prices Soft for a Second Day

by George Belekos, KPI Bridge Oil
Thursday March 1, 2018

The announcement for US imposed tariffs on industrial products, such as steel and aluminum, spooked the markets today.

A potential trade war could definitely hurt global demand. Yesterday's oil selloff continued, as traders are still eyeing the equity markets and oil indices seem to be correlated with US stocks.

Oil production is ample, any cutoffs from OPEC is substituted from US oil wells and prices are expected to come closer to the lower level of the $55-65/bbl range that has been trading for the past several months.

Bunker prices continued to soften in all major 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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