Crude Futures Rally Heavily on Talk of Iran Deal Delay

by Mohammed Marzuq, KPI Bridge Oil
Tuesday June 23, 2015

Crude futures rallied heavily today on belief that an Iran deal will be postponed for the time being.

Brent front-month contracts for August firmed $1.11 settling in at $64.45 per barrel.

WTI contracts for August firmed $0.63 cents settling in at $61.01 per barrel.

It should be noted that today we witnessed a strong U.S dollar that had little affect on the commodities market.

Crude future movements have been heavily driven by the currency market the past few months; if the green-back was soft today we could have easily expected Brent crude prices to be well over $65.00 per barrel.

Bunkers were firm today in the primary ports and we would advise bunker purchasers to fix sooner rather than later so as not to be fully exposed to the recent volatility.

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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