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 rose modestly on Tuesday as markets focused on increased Chinese demand and potential European supply tightness for the winter. Brent crude settled at $72.19 per barrel, up 5 cents (0.07%), while U.S. West Texas Intermediate closed at $68.59, gaining 22 cents (0.32%). This followed more than 1% gains for both benchmarks on Monday. […]
Oil prices rose over 1% on Monday, supported by heightened geopolitical risks following the ousting of Syrian President Bashar al-Assad and indications that China may adopt a looser monetary policy for the first time since 2010. Brent crude gained $1.02, or 1.4%, settling at $72.14 per barrel, while WTI crude increased $1.17, or 1.7%, to […]
Oil prices fell over 1% on Friday, marking weekly declines as supply surplus forecasts for 2025 overshadowed OPEC+’s decision to delay output hikes and extend production cuts through 2026. Brent crude dropped 97 cents (1.4%) to settle at $71.12 per barrel, while WTI crude declined $1.10 (1.6%) to $67.20. For the week, Brent lost 2.5%, […]
Oil prices declined on Thursday as investors balanced OPEC+ delaying its output increase against expectations of ample supply in 2025. Brent crude fell 22 cents (0.3%) to $72.09 per barrel, while WTI crude dropped 24 cents (0.35%) to $68.30. OPEC+ announced it would begin unwinding its 2.2 million bpd cuts in April 2025, with monthly […]
Oil futures fell sharply on Wednesday as investors awaited the OPEC+ decision on production cuts, with Brent crude dropping $1.31 (1.78%) to $72.31 per barrel and WTI crude declining $1.40 (2%) to $68.54. This followed Tuesday’s gains, where Brent rose 2.5%. OPEC+ is expected to extend output cuts until the end of Q1 2025, with […]
Oil prices surged over 2% on Tuesday as geopolitical tensions and expectations of extended OPEC+ supply cuts boosted the market. Brent crude rose $1.79 (2.5%) to settle at $73.62 per barrel, marking its largest gain in two weeks. U.S. WTI increased by $1.84 (2.7%) to close at $69.94, the highest daily rise since November 18. […]
Oil prices were little changed on Monday as optimism over stronger Chinese demand offset concerns about the U.S. Federal Reserve’s hesitancy to cut interest rates in December. Brent crude dipped 1 cent to $71.83 per barrel, while U.S. WTI rose 10 cents (0.15%) to $68.10. China’s factory activity expanded at its fastest pace in five […]
Oil prices were steady on Friday, with Brent crude slipping 15 cents (0.2%) to $73.13 a barrel and U.S. WTI rising 15 cents (0.22%) to $68.87 in light post-Thanksgiving trading. For the week, Brent dropped 2.8%, and WTI fell 3.4%. The Wednesday ceasefire between Israel and Hezbollah reduced oil’s risk premium, contributing to declines despite […]
Oil prices were mostly unchanged on Wednesday, with Brent settling 2 cents higher at $72.83 a barrel and U.S. WTI down 5 cents at $68.72. A larger-than-expected 3.3 million barrel build in U.S. gasoline inventories weighed on prices, despite crude stocks falling by 1.8 million barrels, a sharper decline than anticipated. The ceasefire between Israel […]
Oil prices extended their losses on Tuesday after news of a ceasefire agreement between Israel and Lebanon reduced the geopolitical risk premium. Brent crude settled down 20 cents, or 0.27%, at $72.81 per barrel, while U.S. West Texas Intermediate (WTI) fell 17 cents, or 0.25%, to close at $68.77. The ceasefire, expected to take effect […]