PFL Railcar Report 12-16-2024

“Whenever you do a thing, act as if all the world were watching.” Thomas Jefferson Jobs Update Stocks closed mixed on Friday of last week and mixed week over week The DOW closed lower on Friday of last week, down -86.06 points (-0.2%) and closing out the week at 43,828.06, down -814.46 points week-over-week. The […]

Petroleum Daily Report 12-13-2024

Oil prices climbed about 2% on Friday, reaching a three-week high on expectations of tighter supplies from sanctions on Russia and Iran, and optimism that lower interest rates in Europe and the U.S. could boost fuel demand. Brent crude settled at $74.49, up $1.08 (1.5%), while U.S. West Texas Intermediate (WTI) rose $1.27 (1.8%) to […]

Petroleum Daily Report 12-12-2024

Oil prices saw minimal movement on Thursday, balancing concerns over ample supply with optimism for a potential Federal Reserve rate cut. Brent crude settled at $73.41, down $0.11 or 0.15%, while U.S. West Texas Intermediate (WTI) closed at $70.02, declining $0.27 or 0.38%. The International Energy Agency (IEA) revised its 2024 demand outlook slightly upward […]

Petroleum Daily Report 12-11-2024

Oil prices climbed over $1 on Wednesday, buoyed by the European Union’s agreement on a new sanctions package targeting Russian oil flows, which could tighten global crude supply. Brent crude rose $1.33 (1.84%) to settle at $73.52 per barrel, while U.S. West Texas Intermediate increased $1.70 (2.48%) to $70.29. The EU’s 15th sanctions package focuses […]

Petroleum Daily Report 12-10-2024

Oil prices rose modestly on Tuesday as markets focused on increased Chinese demand and potential European supply tightness for the winter. Brent crude settled at $72.19 per barrel, up 5 cents (0.07%), while U.S. West Texas Intermediate closed at $68.59, gaining 22 cents (0.32%). This followed more than 1% gains for both benchmarks on Monday. […]

Petroleum Daily Report 12-9-2024

Oil prices rose over 1% on Monday, supported by heightened geopolitical risks following the ousting of Syrian President Bashar al-Assad and indications that China may adopt a looser monetary policy for the first time since 2010. Brent crude gained $1.02, or 1.4%, settling at $72.14 per barrel, while WTI crude increased $1.17, or 1.7%, to […]

PFL Railcar Report 12-9-2024

“The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.“– Michelangelo Jobs Update Stocks closed mixed on Friday of last week and mixed week over week Collectively, Wall Street posted a three-week win streak on Friday, […]

Petroleum Daily Report 12-6-2024

Oil prices fell over 1% on Friday, marking weekly declines as supply surplus forecasts for 2025 overshadowed OPEC+’s decision to delay output hikes and extend production cuts through 2026. Brent crude dropped 97 cents (1.4%) to settle at $71.12 per barrel, while WTI crude declined $1.10 (1.6%) to $67.20. For the week, Brent lost 2.5%, […]

Petroleum Daily Report 12-5-2024

Oil prices declined on Thursday as investors balanced OPEC+ delaying its output increase against expectations of ample supply in 2025. Brent crude fell 22 cents (0.3%) to $72.09 per barrel, while WTI crude dropped 24 cents (0.35%) to $68.30. OPEC+ announced it would begin unwinding its 2.2 million bpd cuts in April 2025, with monthly […]