Brent, Bunker Prices Rise as Fighting Continues at Iraq's Baiji Refinery

by Marisa McGuire, KPI Bridge Oil
Wednesday June 18, 2014

Brent crude oil and bunker prices rose again today as fighting in Iraq continued at the Baiji refinery.

EIA inventories and the US Federal Reserve made news, but the bloodshed in Iraq is what continues to push the ticker up in the energy complex.

This refinery is reportedly for domestic consumption only in Iraq.

The southern oil fields, where Iraq's oil exports originate, are allegedly safe from the current conflict.

Bunker buyers beware, Iraq is a top 10 oil producer and exporter.

What stopped the 4% increase in energy prices from last week continuing to surge into this week's trading is the guarantee that Iraqi exports will continue uninterrupted.

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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