Crude Benchmarks Settle 3% in the Red

by Tim Bonett, KPI Bridge Oil
Wednesday November 2, 2016

The inventory build the market had been waiting for finally arrived today and brought with it a powerful punch to oil prices.

The EIA reported a 14+ million barrel crude build last week, topping the list of largest weekly builds ever recorded.

This overwhelmingly bearish news overshadowed anything possibly positive from the rest of the report.

Crude benchmarks settled 3% in the red.

As a result, bunker prices were softer in the primary ports.

WTI December $45.34/BBL DOWN -$1.33/BBL
Brent December $46.86/BBL DOWN -$1.28/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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