The oil market was bullish today on the back of Biden’s inauguration as the new administration plans to increase stimulus and enact policy to tighten crude supply.
Petroleum Daily Report 1-19-2021
Oil prices rose today buoyed by rising equities heading into tomorrow’s inauguration. There is a lot of optimism in oil markets on proposed stimulus
Petroleum Daily Report 1-15-2021
Oil prices were off today, as concerns build over rising Covid cases and the state of the economy in Q1 and going forward. This is the first weekly decline in 3 weeks as financial contracts had been boosted by strong equities and weaker dollar.
Petroleum Daily Report 1-14-2021
Oil prices were trading down for the day before trading up later in session on news of a big proposed stimulus package by the incoming administration.
Petroleum Daily Report 1-13-2021
Oil prices traded down today as there was a draw in crude stockpiles for the 5th straight week but another build in refined product inventories.
Petroleum Daily Report 1-12-2021
Oil prices rose today, hitting 11 month highs, buoyed by Saudi Arabias production cuts.
PFL Railcar Storage Report 1-11-2021
The number of cars in storage continued to decline and is getting closer to pre-pandemic levels as the economy begins to recovers and cars are retired.
Petroleum Daily Report 1-11-2021
Oil prices eased today along with other financial markets. “The renewed concerns about demand due to very high numbers of new corona
Petroleum Daily Report 1-8-2021
Oil prices hit 11-month highs and closed higher for the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets
Petroleum Daily Report 1-7-2021
Oil prices rose today, touching fresh 11-month highs, likely on anticipation of increased stimulus under a Biden administration. The new administration would likely spend significant amounts of money