Crude Front-Month Contracts for May Maintain Upward Momentum

by Mohammed Marzuq, KPI Bridge Oil
Tuesday April 7, 2015

Today was another disappointing day for the bunker buyers as crude front-month contracts for May kept the momentum we saw yesterday.

WTI crude prices settled at $53.89 up 3% from yesterdays close.

The prices were driven up by the EIA monthly report forecasting higher global demand and also seeing a slow down in U.S based production.

Genscape put out a report yesterday that stated stocks at Cushing, Oklahoma grew by only 169,000 barrels last week.

This was a relatively small amount compared to the record building stock pile we have seen week after week since earlier this year.

Brent crude futures also saw respectable gains today holding the course it was on yesterday; Brent settled 88 cents higher at $59.10.

Bunkers were mostly steady to firm 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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