Oil prices Continue to Trade in a Tight Range

by Tim Bonett, KPI Bridge Oil
Tuesday January 24, 2017

Oil prices are trading in a tight range this week as the market weighs production cuts with inventory reports and rig counts.

Despite positive news regarding OPEC cuts over the weekend the bulls are hesitant to enter the market until some signs of US production slowing start to appear.

Analysts are expecting a 2 million barrel build for crude supplies when the data is released tomorrow.

Bunker prices were mostly stable in the primary ports.

WTI March $53.18/BBL UP $0.43/BBL
Brent March $55.44/BBL UP $0.21/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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