Brent Drops Back Under $50/bbl

by Mohammed Marzuq, KPI Bridge Oil
Monday October 12, 2015

Crude futures reversed from last weeks spike when OPEC data showed an increase in production of 109,000 barrels per day.

ICE contracts for November fell 5% settling under $50.00 per barrel.

NYMEX front month contracts softened $2.53 per barrel settling at $47.10 per barrel.

Thin trading in the U.S due to the Columbus day holiday gave support to todays prices and we can expect market direction to be driven by this weeks EIA data.

Bunkers were softer today across the board and we urge owners/operators to take advantage of the lower prices as there is still a lot of political speculation that could shoot prices right back up.

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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