
Petroleum Daily Report 7-10-2020
Oil prices had a strong session recovering from yesterday’s drop, but still ending the week about 1% lower.
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 had a strong session recovering from yesterday’s drop, but still ending the week about 1% lower.

Oil and other financial markets fell today on resurgent pandemic fears. Coronavirus cases have been on the rise in 42 of the 50 U.S. states over the past two weeks, according to a Reuters analysis.

Oil prices rose again for the day despite a large build in crude stocks and a new record high level of crude stocks in the Gulf.

Oil prices were flat today as positive economic data is driving prices upwards while increasing COVID cases continues to cap gains.

Crude oil prices traded mostly flat for the day as caution remains over spreading virus cases.

Crude oil prices jumped today after a stronger than expected US jobless report. Expectations were all over the map but few economists or analysts forecasted such strong growth.

“Saudi imports are down to a trickle and I think this draw is going to be the first in a string of draws,”

Sustaining the independent show of gasoline strength will be challenged by coronavirus headlines where news has seen a definite negative shift in recent weeks,”

Oil prices rose today starting the week out strong after having a negative week last week. The biggest yet unsurprising news was the Chesapeake bankruptcy.

Oil prices dipped slightly for the day posting a negative week for 2 out of the last 3. As virus cases appear to be on the rise in states like