Crude Bounces Back After 2 Days of Loses

by George Belekos, KPI Bridge Oil
Thursday August 11, 2016

Crude prices reached for the skies today as Saudi Arabia's Energy Minister concured that a discussion of the market and possible action to stabilize prices should happen next month.

The reaction may be inflated as we have heard this song before but it shows how thirsty the bulls are for positive news.

It is difficult to foresee the market heading lower as long the meeting remains a possibility.

Bunker prices were quite firm in the primary ports.

WTI September $43.49/bbl UP $1.78/bbl
Brent August $46.04/bbl UP $1.99 /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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