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 were lower today trading down as Mid East tensions ease. U.S. Secretary of State Antony Blinken visited Egypt and pushed for progress toward a Gaza ceasefire and hostage release deal. Major differences still need to be resolved in talks this week. “There was probably around $4 to $8 of geopolitical premium baked into […]
Oil prices fell today by more than $2 on the prospect of successful Middle East talks and weakness in the Chinese economy. “This market is under pressure under expectations that they’re going to continue to hammer away at the ceasefire talks,” said Bob Yawger, director of energy futures at Mizuho in New York. China’s economic […]
Oil prices fell today closing out a volatile week little changed. On Thursday, data from China showed its economy lost momentum in July, with new home prices falling at the fastest pace in nine years, industrial output slowing and unemployment rising. That has stoked worries among traders about a slump in demand from the top […]
Oil prices were higher today trading up after US economic data eased fears of a recession. Data showed U.S. retail sales rose more than expected in July. Another report showed a smaller-than-expected increase in the number of Americans filing for unemployment benefits. “The positive economic data serve as an indicator that we’re heading towards a […]
Oil prices were lower today as crude inventories unexpectedly rose last week. Crude inventories rose 1.4MM/bbls, compared to estimates for a 2.2MM/bbls drop. “That six week draw was a pretty impressive but that’s in the rearview mirror. The fact that we snapped the streak should weigh on prices a little bit,” said Robert Yawger, director […]
Oil prices were lower today trading down as traders grew less nervous about escalation and a wider conflict in the Middle East. “The markets had priced in an imminent attack by Iran against Israel within 24 to 48 hours,” said Phil Flynn, senior analyst at Price Futures Group. “That hasn’t happened. The market is taking […]
Oil prices rallied today rising for a fifth consecutive session on expectations of a widening Middle East conflict. The U.S. Defense Department said over the weekend that it will send a guided missile submarine to the Middle East as the region braces for chaos. “We’re piling assets one on top of the other and giving […]
Oil was higher today and traded up over 3% for the week as positive economic data and signals from the Fed indicating September rate cuts helped push prices up. Fears of escalating tensions in the Middle East also raised supply risks. A trio of Federal Reserve policymakers indicated on Thursday that they were more confident […]
Oil prices settled higher today for the third consecutive session after US jobs data eased demand concerns and war in the Middle East helped prices recover from Mondays 8-month lows. “The latest U.S. data on jobless claims indicates still a growing U.S. economy, reducing some of the oil demand concerns,” UBS analyst Giovanni Staunovo said. […]
Oil prices were higher today trading up 2% bouncing back from multi month lows. On Monday, Brent slumped to its lowest since early January and WTI touched its lowest since February, as a global stock market rout deepened on concerns about a potential recession in the U.S. after weak jobs data. This broke a three […]