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 fell today as fears of tension in the Middle East eased a little today. Crude jumped 3% on Friday after Israel stepped up ground incursions into Gaza, stoking worries the conflict could expand in a region that accounts for a third of global oil output. However, that concern was fading on Monday, analysts […]
Oil prices rose closed out the week with a strong session today as worries of middle east tensions were front and center again. Both contracts however closed lower week over week. Brent’s premium over WTI rose to its highest since March, making it more attractive for energy firms to send ships to the U.S. to […]
Oil prices fell today as tensions in the middle east simmered down, although the conflict is far from over. “The market is on edge,” said Price Futures analyst Phil Flynn. “It’s critical to understand that we’re one headline away from a big rally in the market. “Worries about the broader global economy also weighed on […]
Oil prices rose about 2% today despite a rise in crude inventories. Middle east tensions continue to capture headlines but gains are capped by gloomy economic prospects both here and abroad. US crude inventories rose by 1.4MM/bbls, exceeding the forecasted rise of 240K/bbls. The EIA data “is more bearish because it’s a big switch from […]
Oil prices fell on Tuesday for the third straight session after bad economic data out of the Euro zone and Britian weighed on prices. Signs are pointing to a recession in the block and data of a Germany is indicating a recession is already underway. “There is definitely a dialogue on about the global economy […]
Oil prices fell today as diplomatic efforts in the Middle East intensify aiming to contain the conflict. Aid convoys have begun to arrive in Gaza and as of yet the Israelis have not begun a ground incursion. “The imminent risk to supply seems to have gone down,” said Phil Flynn, analyst at Price Futures Group. […]
Oil prices were lower today on hopes of de-escalation of the middle east conflict. Hamas’ armed wing released two US hostages from Gaza. “The report took some of the risk premium out of the market,” said Phil Flynn, analyst at Price Futures Group. “The market went from starting the day with little hope and went […]
Oil prices settled higher today as traders remained nervous that Israel’s military campaign in Gaza could escalate to a regional conflict. Israeli Defense Minister Yoav Gallant told troops gathered at the Gaza border that they would soon see the Palestinian enclave “from inside,” suggesting an expected ground invasion could be nearing. U.S. West Texas Intermediate […]
Oil was up 2% today on the back of a big U.S. crude storage draw and continued Middle East tensions. The U.S. Energy Information Administration said energy firms pulled 4.5 million barrels of crude from stockpiles during the week ended October 13, 2023. Supplies declined 800,000 barrels at Cushing to its lowest level since October […]
Oil prices were mostly flat today. Both benchmarks have been rallying since tensions flared up in the Middle East. “Oil prices are wavering as energy traders await to see if the U.S. diplomatic efforts will be successful in preventing the Israel-Hamas conflict from turning into a wider regional war,” said Edward Moya, senior market analyst […]