Crude Down, But the Weakening in Prices "Should be Brief"

by Tim Bonett, KPI Bridge Oil
Tuesday May 27, 2014

The run up on crude before the long holiday weekend had investors taking profits and benchmarks spending most of the day in the red.

The weakening in prices should be brief as U.S. crude stockpiles are expected to fall when the EIA reports its figures, a day later this week due to the Memorial Day holiday.

On the other side of the Atlantic, Libyan oil exports fell and new protests impeded work at one of the regions ports.

Ukranian forces continue to fight separatists after Sundays election of new President Petro Poroshenko capping losses.

By the end of the day WTI slipped $0.24/bbl to $104.11 while Brent retreated $0.43/bbl settling at $110.11/bbl. 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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