Oil Prices See Little Change on Tuesday

by Tim Bonett, KPI Bridge Oil
Tuesday May 16, 2017

Oil prices were little changed on Tuesday after yesterday's run-up and ahead of tomorrow EIA report.

Kuwait joined in on the party by supporting the cuts through 2018 but the revelers had all gone home by then to rest.

There is an expected draw of 2.3 million barrels which would be crude's sixth straight weekly decline.

Prices have increased over $5/bbl during the past 2 weeks and could be headed higher depending on where the figure lands tomorrow.

Bunker prices were stable in the primary ports.

WTI June $48.66/BBL DOWN -$0.19/BBL
Brent July $51.65/BBL DOWN -$0.17/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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