Petroleum Daily Report 4-16-2025

Oil prices rose nearly 2% on Wednesday to a two-week high amid concerns over global supply following new U.S. sanctions on Chinese importers of Iranian oil. Brent crude futures settled up $1.18, or 1.8%, at $65.85 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $1.14, or 1.9%, to $62.47.  The U.S. imposed sanctions […]

Petroleum Daily Report 4-15-2025

Oil prices settled slightly lower on Tuesday as markets grappled with ongoing uncertainty surrounding U.S. President Donald Trump’s shifting tariff policies and the potential fallout for global economic growth and oil demand. Brent crude futures slipped 21 cents, or 0.3%, to settle at $64.67 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 20 […]

Petroleum Daily Report 4-14-2025

Oil prices settled slightly higher on Monday, supported by U.S. tariff exemptions on some electronics and a rebound in China’s crude imports, though gains were limited by persistent concerns over the broader impact of the trade war. Brent crude futures closed up 12 cents, or 0.2%, at $64.88 per barrel, while U.S. West Texas Intermediate […]

Petroleum Daily Report 4-11-2025

Brent crude futures climbed $1.43, or 2.26%, to settle at $64.76 a barrel, while U.S. West Texas Intermediate (WTI) crude finished up $1.43, or 2.38%, at $61.50. The prospect of a significant reduction in global oil supply from stricter enforcement of sanctions on Iranian crude added upward momentum to prices, which have been volatile throughout […]

Petroleum Daily Report 4-10-2025

Oil prices dropped sharply on Thursday, giving back the gains from the previous session, as investor optimism over a brief pause in sweeping U.S. tariffs faded and attention turned back to the escalating trade war between Washington and Beijing. U.S. West Texas Intermediate (WTI) crude futures fell $2.28, or 3.7%, to settle at $60.07 per […]

Petroleum Daily Report 4-9-2025

Oil prices rebounded sharply on Wednesday, climbing over 4% after hitting four-year lows earlier in the session, following President Trump’s announcement of a 90-day pause on tariffs for most countries—though he hiked the rate on China to 125%, effective immediately. This came on the same day the previously announced 104% tariff on Chinese goods took […]

Petroleum Daily Report 4-8-2025

Oil prices continued their decline on Tuesday, falling to fresh four-year lows as escalating trade tensions between the U.S. and China deepened recession fears, overshadowing a rebound in equity markets. Brent crude settled at $62.82 a barrel, down $1.39 or 2.16%, while U.S. West Texas Intermediate (WTI) fell $1.12, or 1.85%, to close at $59.58. […]

Petroleum Daily Report 4-7-2025

Oil prices slid 2% on Monday, settling at their lowest levels since April 2021, as escalating global trade tensions fueled fears of a recession and weakened expectations for energy demand. Brent crude fell $1.37, or 2.1%, to settle at $64.21 a barrel, while U.S. West Texas Intermediate (WTI) dropped $1.29, or 2.1%, to $60.70. Both […]

Petroleum Daily Report 4-4-2025

Oil prices tumbled on Friday, plunging roughly 7% to settle at their lowest levels in over three years, as China’s announcement of steep new tariffs on U.S. goods escalated global trade tensions and stoked recession fears. Brent crude dropped $4.56, or 6.5%, to close at $65.58 a barrel, while U.S. West Texas Intermediate (WTI) slid […]

Petroleum Daily Report 4-3-2025

Oil prices plunged on Thursday, marking their steepest percentage drop since 2022, after OPEC+ unexpectedly increased output a day after President Donald Trump introduced sweeping new import tariffs. Brent crude settled at $70.14 per barrel, down $4.81 or 6.42%, while WTI closed at $66.95, falling $4.76 or 6.64%. Brent posted its largest decline since August […]