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 dropped over $2 per barrel on Monday following reports that Israel and Lebanon had agreed in principle to a ceasefire deal to end the Israel-Hezbollah conflict. Brent crude settled at $73.01, down $2.16 (2.87%), while U.S. West Texas Intermediate (WTI) closed at $68.94, a decrease of $2.30 (3.23%). The news of potential de-escalation […]
Oil prices climbed roughly 1% on Friday, reaching a two-week high, as heightened geopolitical tensions stemming from the escalating Russia-Ukraine war boosted the market’s risk premium. Brent crude rose 94 cents (1.3%) to settle at $75.17 per barrel, while U.S. West Texas Intermediate (WTI) crude gained $1.14 (1.6%) to close at $71.24. For the week, […]
Oil prices rose nearly 2% on Thursday as escalating tensions between Russia and Ukraine raised concerns about global crude supply. Brent crude futures climbed $1.42 (1.95%) to $74.23 per barrel, while U.S. West Texas Intermediate (WTI) crude increased $1.35 (2%) to $70.10. The conflict intensified after Russian President Vladimir Putin announced a hypersonic missile strike […]
Oil prices settled lower on Wednesday, with Brent crude for January falling by $0.50 (0.68%) to $72.81 and the December WTI contract dropping $0.52 (0.75%) to $68.87. The more active WTI January contract ended at $68.75, down $0.49 (0.71%). Prices were pressured by higher-than-expected U.S. crude and gasoline stockpiles, as reported by the Energy Information […]
Oil prices were relatively flat on Tuesday, with Brent crude settling at $73.31 per barrel, up $0.01, and WTI crude closing at $69.39 per barrel, up $0.23 (0.3%). Prices remained steady as escalating tensions in the Russia-Ukraine war raised concerns about potential supply disruptions. Ukraine’s use of U.S. ATACMS missiles against Russian targets and President […]
Oil prices surged over 3% on Monday as Norway’s Johan Sverdrup oilfield halted production due to a power outage, tightening North Sea supply. Brent crude rose $2.26 (3.2%) to settle at $73.30 per barrel, while WTI gained $2.14 (3.2%) to close at $69.16. Repairs at Kazakhstan’s Tengiz oilfield, cutting output by up to 30%, further […]
Oil prices fell over 2% on Friday, with Brent settling at $71.04 per barrel, down $1.52 (-2.09%), and WTI at $67.02, down $1.68 (-2.45%). For the week, Brent dropped 4%, while WTI declined 5%, driven by weaker Chinese demand and uncertainty over U.S. Federal Reserve rate cuts. China’s crude refining in October fell 4.6% year-over-year […]
Oil prices closed slightly higher on Thursday after a large draw in U.S. fuel stocks offset oversupply and demand concerns. Brent rose 28 cents (0.4%) to $72.56 a barrel, while U.S. WTI gained 27 cents (0.4%) to $68.70. Both briefly dipped into negative territory during the session. For the week, Brent was set to lose […]
Oil prices rebounded on Wednesday, rising slightly as traders engaged in short-covering after Tuesday’s dip. Brent crude rose 39 cents (0.54%) to $72.28 a barrel, while U.S. WTI gained 31 cents (0.46%) to $68.43. Gains were capped by the dollar hitting a seven-month high, which makes oil pricier for holders of other currencies. Tuesday’s drop […]
Oil prices held near a two-week low on Tuesday after a 5% drop over two sessions, pressured by OPEC’s lowered demand forecast, a strong U.S. dollar, and underwhelming Chinese stimulus measures. Brent rose 6 cents to $71.89, and U.S. WTI gained 8 cents to $68.12, stabilizing after Monday’s lows. OPEC cut its 2024 demand growth […]