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.
For additional insights into commodity markets or inquiries regarding RIN data, please contact PFL Petroleum at 239-390-2885.
Oil prices were higher today due to geopolitical risk in Europe and the Middle East. Prices rose after a Ukrainian drone strike caused a large fire in a fuel tank at an oil terminal in Russia’s southern port of Azov, according to Russian officials and a Ukrainian intelligence source. “The Ukrainian attack reminds the market […]
Oil prices were higher today as the market grows more optimistic on oil demand outlook. Last week, both benchmarks posted their first weekly gain in four weeks after reports from the OPEC+ producer group, the International Energy Agency and U.S. Energy Information Administration raised confidence that oil demand will improve in the second half of […]
Oil futures prices settled slightly lower on Friday after a survey showed deteriorating U.S. consumer sentiment, but prices rose 4% week over week as investors weighed forecasts for solid demand for crude oil and fuel in 2024. West Texas Intermediate (WTI) U.S. crude futures were down 17 cents closing at $78.54 per barrel. The U.S. […]
West Texas Intermediate (WTI) U.S. crude futures lost 79 per cents per barrel, or 1%, to close at $77.84 a barrel, reversing small gains in the previous session. Oil prices rallied after the Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman […]
Oil pries were higher today as ongoing tensions in the Middle East lent support to prices. Meanwhile, investors were left disappointed after the Federal Reserve pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year. “The market is holding its breath […]
Oil prices were higher today trading up as the EIA raised its global oil demand growth forecast. “We’re now at least considering the idea that maybe demand will pick up in the second half, and the market may actually need some additional OPEC+ supply,” said Tim Evans, an independent energy analyst. U.S. crude oil output […]
Oil prices closed higher on Monday to a one-week high, driven by expectations of increased summer fuel demand. Brent futures rose 2.5% to $81.63 up $2.01 per barrel, and U.S. West Texas Intermediate (WTI) crude climbed 2.9% to $77.74 up $2.21 per barrel, both reaching their highest close since May 30. Despite this optimism, there […]
Oil prices were lower today posting their third straight weekly loss as investors weighed OPEC+ reassurances against the latest US jobs data that lowered expectations of a looming Fed rate cut. “The jobs report indicated higher rates for longer,” said Andrew Lipow, president of Lipow Oil Associates. “That tends to dampen enthusiasm on the oil […]
Oil prices were higher today, trading up after the ECB opted to cut interest rates. The move spurred hopes that the Fed will follow in their footsteps. This is kind of a good news/bad news situation. “Today the ECB rate cuts are helping, and casting a view that the Fed will finally follow suit here […]
Oil prices climbed today rebounding from four-month lows as hopes of an interest rate cut in September outweighed demand concerns from todays EIA report. “Data outside of the oil world was sufficiently weak that it’s going to give cover to the Fed to finally cut rates and spur some growth,” said John Kilduff, partner at […]