
Petroleum Daily Report 5-28-2021
Oil prices inched higher today, posting strong gains for the week of over 5% for both contracts. “Gasoline demand has now exceeded 2019 levels in many areas,”
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.
For additional insights into commodity markets or inquiries regarding RIN data, please contact PFL Petroleum at 239-390-2885.
Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.

Oil prices inched higher today, posting strong gains for the week of over 5% for both contracts. “Gasoline demand has now exceeded 2019 levels in many areas,”

Oil prices were mostly flat again today, trading up as US unemployment numbers dropped more than expected last week to new pandemic lows.

Oil prices steadied today, as a drop in US commercial crude inventories reinforced expectations of improving demand. Both contracts had traded down earlier in the session but traded up after the EIA report was released

Oil was mostly flat for the day, edging up slightly. Parts of Europe and the United States are recording fewer COVID-19 infections and deaths, prompting governments to ease restrictions

Oil prices rose today, after falling for three straight sessions as the market braces for a return of Iranian crude. Both contracts are on track to fall 3% this week.

Oil prices fell for a third straight day on fears of increased Iranian supply, as the Islamic Republic is making progress on the re-entering the nuclear deal, according to their President.

The sell-off began when the Russian Energy minister said a lot of progress was made on Iran re-entering the nuclear deal, a move that add a lot of bbls to the market. Then speculative investments collapsed today, weeding out speculators in a broad range of asset classes from lumber to cryptocurrencies.

Oil prices came off today, trading down despite good news on economic re-openings. “Economies are again switching a gear higher

Oil prices continued to climb today, buoyed by the rolling back of Covid restrictions in Europe and parts of the US. US air travel is picking up, with Sunday having the most air passengers since last March.

Oil prices gained today, reversing yesterday’s losses as financial markets strengthened. Global equities rose and the dollar slipped on Friday after Fed officials said there would be no immediate moves to tighten monetary policy. Oil markets have come under pressure this week from coronavirus cases in India as well as worries that the new variant first detected there is spreading to other countries