WTI Makes Gains on Tuesday

by Tim Bonett, KPI Bridge Oil
Tuesday June 3, 2014

Investors are speculating that crude stockpiles at Cushing will decline when figures are released tomorrow which supported WTI in the late stages today, an early sign of what tomorrow may bring.

Tomorrow's EIA report should give the market a more clear direction.

Brent was pressured earlier today as the European unemployment rate is headed towards record levels.

However, the selloff was stymied as China's factory sector reported its best figures in four months and Libya's port of Hariga remained closed due to protests.

By the end of the day WTI gained $0.19/bbl, finishing the day at $102.66/bbl. Brent lost $0.01/bbl, settling at $108.82/bbl. 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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