Crude Down As Federal Reserve Talks Interest Rate Hikes

by Marisa McGuire, KPI Bridge Oil
Wednesday March 19, 2014

Volatility was back in the market today as investors waited to hear from new Federal Reserve Chairwoman Janet Yellen.

The anticipated monthly asset buy program was tapered by another ten billion dollars, bringing it to 55 billion dollars. 

Equities dropped like an anchor after Yellen mentioned "interest rate hikes could come as early as the spring of 2015."  

Most investors were expecting such an announcement, but the typical market craziness ensued after the Fed dropped the gavel on the way forward for the American economy. 

Brent traded most of the day in the negative, down around $0.94/bbl. 

Bunker buyers beware, low sulfur fuel oil avails are tight on both ends of the Panama Canal which has sharply increased pricing.  Send inquiries as far in advance as possible.

WTI ended the day down $0.76 at $100.46/bbl, while Brent dropped $0.94 to $105.85/bbl.

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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