Crude Falls Another 3%

by Tim Bonett, KPI Bridge Oil
Wednesday August 31, 2016

Stockpiles grew much more than expected while the distillate drawdown was not nearly as much as anticipated shaving crude by 3% today.

Oil prices are facing a 3-headed monster as a gloomy stockpiles report, strong dollar and storm brewing off the coast of Florida have beaten down benchmarks this week.

The rally that consumed August has all but disappeared.

Bunker prices continued to soften 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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