WTI Soars Over Speculation on Crude Inventories

by Tim Bonett, KPI Bridge Oil
Tuesday February 18, 2014

WTI soared today on speculation that crude inventories plummeted between 1.0 and 1.5 million barrels last week.

The particularly harsh winter temperatures have created a healthy demand for heating oil, even as another winter storm dropped a few inches of snow in parts of the Northeast U.S. today.

Brent rose on supply worries as South Sudanese rebels allegedly seized control of Malakal, an Upper Nile oil-producing state capital.

By the end of the session WTI jumped $2.13/bbl settling at $102.43/bbl. Brent rose $1.38/bbl finishing the day at $110.46/bbl. Bunker prices were firming 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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