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 rose again for the 6th straight week and are now at the highest level since mid-April. Saudi Arabia on Thursday extended a voluntary oil production cut of 1 million barrels per day to the end of September, keeping the door open for another extension. Russia has also elected to reduce its oil exports […]
Oil prices were higher today as Saudi Arabia and Russia take steps to keep supplies tight into next month and maybe beyond. Diesel futures also rose about 2% to close at their highest since January 2023. A lack of big price moves in recent weeks has cut Brent’s historic or actual 30-day close-to-close futures volatility […]
Oil prices were lower today, settling more than 2% despite a historic drop in crude inventories. Crude stocks fell 17MM/bbls last week, the largest drop in inventories ever going back to 1982. Increased refinery runs and strong exports led this larger than expected decline. Ratings agency Fitch downgraded the US government’s top credit rating, an […]
Oil prices edged lower today, moving down as traders started taking profits. “Crude is moving in a corrective phase this morning, prompted by a sharply higher U.S. dollar index and satisfying the ‘overbought’ market situation,” said Dennis Kissler, senior vice president of trading at BOK Financial. The dollar index by .4% today, which is a […]
Oil prices hit multi month highs today on tightening supply. “After the end of SPR releases and recession fears and a liquidity drain due to bank stability fears, which caused the markets to ignore a looming supply squeeze, the coming supply deficits are getting too big to ignore,” Price Futures Group analyst Phil Flynn said. […]
Crude oil prices rose again today, notching their 5th straight week of gains. Bullish demand expectations were boosted on Thursday after U.S. second quarter gross domestic product grew at a forecast-beating 2.4%, supporting Federal Reserve Chairman Jerome Powell’s view that the economy can achieve a so-called “soft landing.” Investors are warming up to the idea […]
Oil prices settled higher Thursday with WTI settling over $80 a barrel. Crude markets have been really strong as of late and are on track for a fifth week of consecutive gains. “We see the oil market undersupplied,” UBS analysts said in a report. “We retain a positive outlook and look for Brent to rise […]
Oil prices fell today as data showed crude inventories fell less than expected and the Fed hikes rates another 25 bps. The Feds latest rate hike set the overnight interest rate in the 5.25-5.5% range, the highest in 22 years. Crude inventories were down 600K/bbls, compared to estimates of a 2.35MM/bbl draw. Gasoline and diesel […]
Oil prices were higher again today, rising to three months as tighter supplies and bullish trends from China lifted sentiment. Contracts remain in backwardation. “The market is getting more concerned about the trend of tightening oil supplies, and it’s becoming more obvious to the naysayers that the expected drop-off in demand isn’t happening,” Price Futures […]
Oil prices were higher today, climbing about 2% to almost three month highs. Both contracts had their highest close since mid April and are in technically overbought territory. Bob Yawger, director of energy futures at Mizuho Bank, said a move above the 200-day moving average “generally stops out the speculative shorts and attracts traders looking […]