WTI and Brent Stable on Monday

by Marisa McGuire, KPI Bridge Oil
Monday May 12, 2014

Both WTI and Brent were relatively stable as oil fundamentals were at play driving markets today.

Brent climbed on news that the escalating Ukraine crisis will disrupt supplies, however gains were capped as Libya announced its western oilfields and pipelines will reopen on Monday evening potentially raising Libyan output by 500,000 barrels per day.

Stockpiles in Cushing, Oklahoma decreased for the 14th time in the past 15 weeks with expectations for a further draw  while U.S. refineries expect to increase demand to process and produce summer fuels.

There were some good opportunities in the market today for Bunker Buyers as avails remain good in the main bunkering 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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