WTI Heads Skyward as US Crude Supplies Plummet

by Tim Bonett, KPI Bridge Oil
Wednesday July 16, 2014

Traders looking for optimism in the market gave crude prices a shot in the arm today. 

Weekly EIA figures reported US crude supplies plummeted almost three times the expected amount sending WTI skyward.

This it thought to mostly be attributed to the fact that refinery operating rates are at the highest levels seen since August of 2005.

Even though China released positive GDP figures, the market was not as bullish on Brent as investors remain weary of the increase in supplies coming out of Libya.

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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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