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 rebounded sharply on Wednesday, climbing over 4% after hitting four-year lows earlier in the session, following President Trump’s announcement of a 90-day pause on tariffs for most countries—though he hiked the rate on China to 125%, effective immediately. This came on the same day the previously announced 104% tariff on Chinese goods took […]
Oil prices continued their decline on Tuesday, falling to fresh four-year lows as escalating trade tensions between the U.S. and China deepened recession fears, overshadowing a rebound in equity markets. Brent crude settled at $62.82 a barrel, down $1.39 or 2.16%, while U.S. West Texas Intermediate (WTI) fell $1.12, or 1.85%, to close at $59.58. […]
Oil prices slid 2% on Monday, settling at their lowest levels since April 2021, as escalating global trade tensions fueled fears of a recession and weakened expectations for energy demand. Brent crude fell $1.37, or 2.1%, to settle at $64.21 a barrel, while U.S. West Texas Intermediate (WTI) dropped $1.29, or 2.1%, to $60.70. Both […]
Oil prices tumbled on Friday, plunging roughly 7% to settle at their lowest levels in over three years, as China’s announcement of steep new tariffs on U.S. goods escalated global trade tensions and stoked recession fears. Brent crude dropped $4.56, or 6.5%, to close at $65.58 a barrel, while U.S. West Texas Intermediate (WTI) slid […]
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, […]