Crude Up on Political Unrest

by Tim Bonett, KPI Bridge Oil
Thursday April 24, 2014

Tensions were on the rise today as Russia resumed military drills along its border with Ukraine after 5 pro-Moscow separatists were reported killed inside the country possibly by the Ukrainian government.

In turn crude benchmarks, particularly Brent, were up strongly for the day.

The agreement to disarm signed by Ukraine, Russia, the U.S. and European Union over the weekend is quickly disintegrating and oil investors are strongly taking notice.

WTI was capped by the glut of supplies reported yesterday but for now, as the situation overseas goes so goes crude.

By the end of trading today Brent gained $1.12/bbl settling at $110.33 while WTI stepped up $0.50/bbl, ending the day at $101.94/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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