Crude Down Again, Officially Enters a Bear Market

by Tim Bonett, KPI Bridge Oil
Tuesday June 20, 2017

It was a new day but a bit of an old story as crude officially entered a bear market.

Oil sits at 22% off its peak price in January surpassing the 20% point needed to qualify for the bear market.

Oil's fall has spread to other energy stocks with some oil majors becoming the S&P 500's worst performing stocks of the year.

Keep an eye on tomorrow's inventory report for market direction.

Bunker prices were softening in the primary ports.

WTI August $43.23/BBL DOWN -$0.97/BBL
Brent August $46.02/BBL DOWN -$0.96/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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