Crude Benchmarks Take a Leap

by Tim Bonett, KPI Bridge Oil
Tuesday April 8, 2014

Crude benchmarks took a leap this afternoon as speculation mounted that crude inventories will fall tomorrow when the weekly EIA data is released.

Adding to the WTI’s rally was a drop in the dollar making commodities such as oil attractive to investors.

Brent gained on fresh tension out of Ukraine as US accused Russia of preparing for further military action.

However, the Brent rally was capped by the expected oil exports out of Libya after the government reached an agreement will rebel groups controlling oil terminals in the region.

By the end of the trading day WTI had gained $2.12/bbl settling at $102.56/bbl while Brent gained $1.85/bbl, ending the day at $107.67/bbl. Bunker prices were firming 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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