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 inched higher on Thursday as investors weighed the potential for additional U.S. sanctions on Russia alongside supply risks from a blockade of Venezuelan oil tankers. Brent crude rose 14 cents to $59.82, while WTI gained 21 cents to $56.15. Traders are closely monitoring the Venezuelan blockade, which could shut in production if tankers […]
Oil prices rebounded more than 1% on Wednesday, driven by heightened geopolitical tensions after U.S. President Donald Trump ordered a blockade of all sanctioned oil tankers entering and leaving Venezuela. Brent crude rose 76 cents to settle at $59.68, while WTI gained 67 cents to $55.94. The move eased some concerns about a growing global […]
Oil prices settled at their lowest levels since early 2021 on Tuesday as markets continued to grapple with oversupply concerns and growing optimism that a Russia-Ukraine peace agreement could eventually lead to the easing of sanctions on Russian crude. Brent crude fell $1.64 to $58.92, while WTI dropped $1.55 to $55.27, with both benchmarks down […]
Oil prices moved lower on Monday as traders weighed supply disruptions tied to escalating U.S.–Venezuela tensions against persistent oversupply concerns and renewed optimism around a potential Russia-Ukraine peace agreement. Brent crude settled at $60.56, down $0.56, while WTI finished at $56.82, a decline of $0.62. Both benchmarks are coming off losses of more than 4% […]
Oil prices finished lower on Friday, capping a weekly decline of roughly 4% as persistent oversupply concerns and the prospect of a Russia-Ukraine peace agreement outweighed geopolitical tensions tied to Venezuela. Brent settled at $61.12, down $0.16, while WTI closed at $57.44, also down $0.16. Both benchmarks had already fallen about 1.5% on Thursday and […]
Oil prices moved lower on Thursday as traders focused on ongoing Russia-Ukraine peace negotiations and the continued buildup of U.S. fuel inventories. Brent settled at $61.28, down $0.93 (-1.49%), while WTI finished at $57.60, down $0.86 (-1.47%). Both benchmarks spent much of the session down nearly 2%, returning to levels last seen in October. Weakness […]
Oil prices edged higher on Wednesday after U.S. officials confirmed the seizure of an oil tanker off the coast of Venezuela, adding to near-term supply concerns in an already fragile market. Brent settled at $62.21, up $0.27, while WTI gained $0.21 to close at $58.46. Analysts said the action — led by the U.S. Coast Guard — […]
Oil prices slipped again on Tuesday as traders weighed slow-moving peace efforts between Russia and Ukraine, concerns about growing supply, and the Federal Reserve’s upcoming rate decision. Brent settled at $61.94, down $0.55, while WTI closed at $58.25, down $0.63. The declines followed Monday’s sharp drop after Iraq restored output at the West Qurna-2 field, […]
Oil prices fell nearly 2% on Monday after Iraq restored output at the West Qurna-2 field, removing a supply disruption that had briefly supported prices. Brent settled at $62.49, down $1.26, while WTI ended at $58.88, down $1.20. Both benchmarks had closed on Friday at their highest levels since November 18 before giving back gains […]
Oil prices settled higher on Friday, edging to their highest levels in two weeks as expectations for a Federal Reserve rate cut strengthened and geopolitical uncertainty continued to shape supply outlooks. Brent gained $0.49 to settle at $63.75, while WTI finished $0.41 higher at $60.08. Both benchmarks logged weekly gains, with Brent up about 1% […]