WTI Slips as U.S. Crude Inventories Rise

by Tim Bonett, KPI Bridge Oil
Wednesday January 29, 2014

WTI was pressured in early trading this morning as the EIA reported U.S. crude inventories climbed by triple the amount anticipated, the highest amount in three months.

The continued cold weather covering a large portion of the U.S. however, kept losses to a minimum as January is expected to be the coldest month on record for the continental U.S. in the past century.

Just before the trading session ended, the Fed announced that it will continue on course in reducing its monthly bond purchasing program by $10 billion per month, ending any speculation that the easing policy would be put on hold.

At the end of the session WTI had slipped $0.05/bbl to $97.36 while Brent had gained $0.44/bbl to $107.85. 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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