Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.
Petroleum Daily Report 5-22-2023
Tensions with China are also on the rise as the PRC is upset with the G7 summit calling it an “anti-China workshop”.
Petroleum Daily Report 5-19-2023
Oil prices fell today as the Republicans and the White House paused talks on raising the debt ceiling.
Petroleum Daily Report 5-18-2023
Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy
Petroleum Daily Report 5-17-2023
Oil prices settled higher today on optimism over oil demand and US debt ceiling negotiations.
Petroleum Daily Report 5-16-2023
Oil prices were lower today as the markets weighed economic risk and bad economic data.
Petroleum Daily Report 5-15-2023
Oil prices rose today after three straight sessions of declines boosted by the prospect of tightening supplies in Canada.
Petroleum Daily Report 5-12-2023
Oil prices were lower today falling for a third consecutive week. Prices were lower on a stronger dollar
Petroleum Daily Report 5-11-2023
Oil prices fell today to the lowest in a week as the US debt ceiling is stoking recession jitters.
Petroleum Daily Report 5-10-2023
Oil prices were lower today ending a three day rally. Consumer prices rose in April albeit at a slower pace.