Oil just had its work week since April, snapping a six week winning streak while trading mostly flat for the day.
Petroleum Daily Report 6-11-2020
Crude oil prices tanked today as fears of a second wave of the virus rocked nearly every financial market. Certain states, particularly in the West/South, are near or at record high numbers for new cases in a 7 day period
Petroleum Daily Report 6-10-2020
Oil prices rose today, recovering losses from earlier in the session even as EIA data showed a build in crude oil stocks.
Petroleum Daily Report 6-9-2020
Oil prices increased slightly today after yesterday’s drop. Goldman Sachs is calling for a 15-20% reduction in price which they say may already be underway after yesterday’s selloff.
Petroleum Daily Report 6-8-2020
Oil prices came off today despite weekend news of the OPEC+ extension that extended the historic 9.6MM/bpd cuts through July.
PFL Railcar Storage Report 6-8-2020
The AAR just released its monthly Rail Time Indicators Report where it reports railcars in storage. As of June 1, 2020, there were 520,729 empty railcars in storage (31.2% of the North America’s rail car fleet)
Petroleum Daily Report 6-5-2020
Oil prices rose today after an unexpected fall in the May US Jobless rate boosted financial markets across a variety of sectors
Petroleum Daily Report 6-4-2020
Crude Oil Imports into China jumped up 13% from April to a near record high of 11.11 million BDP.
Petroleum Daily Report 6-3-2020
Crude stocks were down
.07MM/bbls, compared to a forecasted build of 3.039MM/bbls.
Petroleum Daily Report 6-1-2020
Oil futures traded down today as protesters flooded streets across the US and the world. China contention is also causing negative pressure on pricing