OW Risk Management bunkers fuels Market Update 21 August 2008

Aug 21, 2008

OW Risk Management bunkers fuels Market Update 21 August 2008
Brent crude oil finished a third consecutive day with a gain as Brent crude closed at $114.36/brl. The move was attributed to a growing tension between Russia and USA as the missile defense deal between Poland and USA has been signed. Geopolitical risks managed to offset a rather bearish US stats with an impressive build of crude stocks (+9.4mb against exp. +0.8mb) and a considerable draw in gasoline (-6.2mb against exp. -2.7mb). Bullish factors, such as high level of global security risks...

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