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 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 […]
Oil prices were lower today as expectations are rising that the US and Venezuela will reach a deal easing sanctions on their crude exports. “The reported deal … would help to raise the country’s oil output from very depressed levels,” said William Jackson, chief emerging markets economist for Capital Economics. “But the sector requires enormous […]
Oil prices jumped today rallying to close at the week on rising mid east tensions. The conflict in Israel is not expected have a major impact on oil and gas supplies but market participants are assessing how it could escalate to a broader regional conflict and what problems that could cause. If the U.S. tightens […]
Oil prices were up earlier in the session but traded down after a surprise build in crude inventories. Crude inventories rose by 10.2MM/bbls last week much higher than analysts’ expectations of a500K/bbl build. Lower refining utilization rates and higher net imports added to the crude build, said Bob Yawger, director of energy futures at Mizuho. […]
Oil prices fell today trading down 2% as Saudi Arabia pledged to help stabilize oil markets if there were any disruptions as a result of the ongoing middle east conflict. Mercuria sees prices hitting $100/bbl if the situation escalates further. “The only thing that is becoming clear for energy traders is that the road for […]