Trump Comments Help Crude Prices to Near 3% Increase

by Tim Bonett, KPI Bridge Oil
Wednesday January 11, 2017

Crude benchmarks fought through a heavily bearish EIA report and pushed on to a near 3% increase as a result of President-elect Trump's comments.

Stockpiles of both crude and distillates rose much more than expected but the dollar's plummet on Trumps news conference buoyed prices.

An extra push came as Saudi Arabia announced a cut of oil exports to Asia.

Bunker prices were firming in the primary ports.

WTI February $52.25/BBL UP $1.43/BBL
Brent March $55.10/BBL UP $1.46/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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