The Petroleum Daily Report from PFL Petroleum Services LLC provides daily settlement prices for key petroleum commodities, including crude oil (Brent and WTI), natural gas, RBOB gasoline, ULSD, propane, and butane. Each report includes expert market commentary highlighting the key factors and events influencing commodity prices.
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Oil prices rose today, rebounding from yesterday in a volatile session. China’s central bank said it will step up prudent monetary policy support to the economy, which could be a boost to oil demand.
Oil prices slumped today to the lowest in two weeks after falling 5% last week. Prices are now down about 25% from recent highs and net long positions are the lowest since 2020.
Oil prices fell today, posting a weekly loss of almost 5% as financials markets were down across the board.
Oil prices rose on Thursday, players were concerned about tightened supply as the EU is considering a potential ban on Russian oil imports that would further restrict worldwide oil trade
Oil rose today as the shutdown of Libya’s biggest oilfield strained an already under-supplied market, which overshadowed signals that China’s drastic pandemic lockdowns are weighing on economic growth.
Oil prices settled higher on Thursday after an early decline as investors covered short positions ahead of the long weekend and on news that the European Union might phase in a ban on Russian oil imports.
Oil prices were higher again today despite a much larger than expected crude inventory build. The market has been volatile lately with 3%-4%+ swings in either direction.
Oil prices rallied today, after coming off in yesterday’s session as the supply side was the determining factor again today. Shanghai lockdowns have started to ease, as certain districts have been opening up after no new cases for 14 days.