Crude Futures Soft, Despite Stronger Start to the Day

by Mohammed Marzuq, KPI Bridge Oil
Thursday August 13, 2015

Crude futures were trading higher earlier in the day but ended up softening quite significantly by the end of the day.

The U.S dollar firmed against other currencies making oil less lucrative for buyers who aren't denominated by the green back.

Genscape data stated that U.S crude stocks actually rose by 1.3 million barrels this week which put downward pressure especially in the short term.

BP's mid-west refinery output capacity got slashed by more than 60% which in essence will drive up inventories as this particular shop goes through nearly 500k per day.

The overall sentiment is that crude futures will stay below $50.00 per barrel for quite sometime which will keep favorable prices for bunker buyers.

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.

To contact the editor responsible for this story email us at editor@shipandbunker.com