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 plunged on Thursday, marking their steepest percentage drop since 2022, after OPEC+ unexpectedly increased output a day after President Donald Trump introduced sweeping new import tariffs. Brent crude settled at $70.14 per barrel, down $4.81 or 6.42%, while WTI closed at $66.95, falling $4.76 or 6.64%. Brent posted its largest decline since August […]
Oil prices edged higher on Wednesday as traders anticipated U.S. reciprocal tariffs set to be announced later today, which could heighten investor uncertainty and the risk of a global trade war, potentially dampening crude demand. Brent crude rose 46 cents (+0.6%) to $74.95, while WTI gained 51 cents (+0.7%) to $71.71. The market largely shrugged […]
Oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that President Trump is set to announce, raising concerns about a deepening global trade war. Brent crude fell 28 cents (-0.37%) to $74.49, while WTI crude declined 28 cents (-0.39%) to $71.20, retreating from Monday’s five-week highs. Market sentiment remained cautious as details […]
Oil prices surged to a five-week high on Monday as geopolitical tensions and potential supply disruptions drove market concerns. Brent crude rose $1.11 (+1.5%) to close at $74.74 per barrel, while WTI crude gained $2.12 (+3.1%) to settle at $71.48 per barrel. The Brent-WTI spread narrowed to $3.02, its lowest since July 2024. The price […]
Oil prices dipped on Friday as fears of a U.S. tariff-driven global recession weighed on sentiment, but they still posted a third consecutive weekly gain, driven by Washington’s increasing pressure on Venezuela and Iran. Brent crude futures fell 40 cents (0.5%) to settle at $73.63 a barrel, while WTI declined 56 cents (0.8%) to close […]
Brent crude rose 24 cents (0.3%) to settle at $74.03 per barrel, while WTI gained 27 cents to close at $69.92. This followed a 1% increase on Wednesday, pushing prices to their highest levels since February. Market focus remained on trade tensions as President Trump announced a 25% tariff on imported cars and light trucks, […]
Oil prices climbed on Wednesday, driven by a sharper-than-expected drop in U.S. crude and fuel inventories and mounting concerns over tighter global supply following the U.S. threat of tariffs on Venezuelan crude buyers. Brent crude settled up 77 cents (1.05%) at $73.79 per barrel, while WTI gained 65 cents (0.94%) to close at $69.65. At […]
Oil prices diverged on Tuesday as a truce between Russia and Ukraine on maritime and energy targets offset concerns over potential U.S. tariffs on countries importing Venezuelan oil. Brent crude settled slightly higher by 2 cents at $73.02, while WTI declined 11 cents to $69. The U.S. brokered agreements with Russia and Ukraine to halt […]
Oil prices rose 1% on Monday after President Trump announced a 25% tariff on countries purchasing oil and gas from Venezuela. Brent crude increased 84 cents (1.2%) to $73, while WTI gained 83 cents (1.2%) to $69.11. However, price gains were limited as the U.S. granted Chevron until May 27 to wind down its Venezuelan […]
Oil prices settled higher on Friday, marking a second consecutive weekly gain as fresh U.S. sanctions on Iran and OPEC+ output plans signaled tighter supply. Brent crude rose 16 cents (0.2%) to $72.16, while WTI increased 21 cents (0.3%) to $68.28. For the week, Brent gained 2.1% and WTI 1.6%, their largest increases since early […]