Crude Futures Remain Soft

by Mohammed Marzuq, KPI Bridge Oil
Wednesday October 14, 2015

Crude futures continued to slide downward today on expectation that U.S. inventories face yet another build.

This week alone both ICE and NYMEX contracts for October delivery lost over 6% of their value after Saudi stated that their September output increased by 110,000 barrels per day.

Brent front month contracts were flat today and softened $0.09 cents settling at $49.24 per barrel.

WTI front month contracts settled down at $46.64 per barrel.

Bunkers were soft today in the primary ports and we wait in anticipation to see EIA data as this will surely be driving the market in the following days to come.

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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