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 slipped further Tuesday as supply concerns overshadowed recent geopolitical risks, with traders bracing for a potentially larger OPEC+ output hike and the restart of Kurdish exports through Turkey. Brent for November delivery (expiring Tuesday) settled at $67.02, down 95¢ (1.4%), while the more active December contract closed at $66.03. WTI ended at $62.37, […]
Oil prices tumbled Monday, erasing last week’s gains, as supply concerns returned with OPEC+ set to boost output again and Kurdish exports resuming through Turkey. Brent crude closed at $67.97, down $2.16 (3.1%), while WTI settled at $63.45, down $2.27 (3.45%). The pullback followed Friday’s rally to the highest levels since late July. OPEC+ is […]
Oil prices rose Friday, closing at their highest in weeks, as Ukrainian drone strikes on Russian energy assets cut fuel exports and U.S. allies faced fresh pressure from Washington to reduce Russian imports. Brent crude settled at $70.13, up 71 cents (1.02%), while WTI closed at $65.72, gaining 74 cents (1.14%). Both benchmarks are on […]
Oil prices eased on Thursday, retreating from the prior day’s seven-week highs as stronger U.S. economic data tempered expectations for aggressive rate cuts and supply concerns re-emerged. Brent futures rose 11 cents, or 0.16%, to settle at $69.42 a barrel while U.S. West Texas Intermediate futures fell 1 cent, or 0.02%, to settle at $64.98. […]
Oil prices jumped nearly 3% on Wednesday, reaching seven-week highs, as a surprise U.S. inventory draw and supply disruptions in Iraq, Venezuela and Russia fed a tightening narrative despite broader oversupply concerns. Brent settled at $69.31, up $1.68 (2.5%), its strongest close since August 1. WTI finished at $64.99, up $1.58 (2.5%), its highest since […]
Oil prices rebounded Tuesday, rising more than $1 a barrel, after a deal to resume exports from Iraq’s Kurdistan stalled—calming fears of fresh oversupply—while traders also weighed attacks on Russian energy facilities and U.S. inventory expectations. Brent crude settled at $67.63, up $1.06 (1.6%), while WTI closed at $63.41, up $1.13 (1.8%). Both benchmarks snapped […]
Oil prices edged slightly lower Monday as oversupply worries outweighed geopolitical tensions in Russia and the Middle East. Brent crude settled at $66.57, down 11 cents (−0.2%), while the expiring WTI October contract closed at $62.64 (−4 cents, −0.1%). The more active November contract slipped 12 cents (−0.2%) to $62.28. Both benchmarks have traded within […]
Oil prices dropped Friday as oversupply fears and weak demand signals outweighed the potential boost from this week’s Fed rate cut. Brent crude settled at $66.68, down 76 cents (−1.1%), while WTI closed at $62.68, down 89 cents (−1.4%). The market remains under pressure from robust OPEC+ output, steady Russian exports, and demand concerns flagged […]
Oil prices eased on Thursday as traders remained focused on U.S. economic headwinds a day after the Federal Reserve’s first rate cut of the year, with demand concerns outweighing geopolitical supply risks. Brent crude settled at $67.44, down 51 cents (−0.8%), while WTI closed at $63.57, off 48 cents (−0.8%). The Fed lowered its policy […]
Brent crude settled at $68.22, down 52 cents (−0.76%), while U.S. West Texas Intermediate (WTI) finished at $64.05, off 47 cents (−0.73%). The U.S. Energy Information Administration reported a sharp draw in crude stocks last week, driven by strong exports and weaker imports. But distillate inventories rose, sparking concerns over diesel demand. “Markets are responding […]