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 traded down today retreating from 11 months highs on the back of a larger than expected inventory build. Crude oil inventories were 4.35MM/bbls higher, while the forecast was for a draw of -1.29MM/bbls
The oil market was bullish today on the back of Biden’s inauguration as the new administration plans to increase stimulus and enact policy to tighten crude supply.
Oil prices rose today buoyed by rising equities heading into tomorrow’s inauguration. There is a lot of optimism in oil markets on proposed stimulus
Oil prices were off today, as concerns build over rising Covid cases and the state of the economy in Q1 and going forward. This is the first weekly decline in 3 weeks as financial contracts had been boosted by strong equities and weaker dollar.
Oil prices were trading down for the day before trading up later in session on news of a big proposed stimulus package by the incoming administration.
Oil prices traded down today as there was a draw in crude stockpiles for the 5th straight week but another build in refined product inventories.
Oil prices rose today, hitting 11 month highs, buoyed by Saudi Arabias production cuts.
Oil prices eased today along with other financial markets. “The renewed concerns about demand due to very high numbers of new corona
Oil prices hit 11-month highs and closed higher for the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets