Slight Gain for WTI as Brent Slips

by Tim Bonett, KPI Bridge Oil
Tuesday May 6, 2014

The southern leg of the Keystone Pipeline continues to guzzle crude from Cushing while Morgan Stanley announced today that we are weeks away from reaching minimum operating levels at the NYMEX delivery point, around 20 million barrels.

This notion should be reiterated tomorrow as inventory levels are expected to fall at the hub when the EIA releases the weekly report.

Overseas, investors continue to monitor the situation in Ukraine as the military tries to regain control in the eastern part of the country.

On a macro level the Organization for Economic Cooperation and Development retracted its November prediction that the world economy will expand by 3.6% to 3.4%.

WTI settled slightly up $0.02/bbl to $99.50/bbl while Brent slipped $0.66/bbl finishing at $107.06. Bunker prices were stable 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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