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 over 1.5% due to Chinese economic growth data coming in below expectations, raising concerns about oil demand and the Chinese economy as a whole. As doubts emerged about inflated demand, the pace of hedge fund buying slowed down. Brent crude settled at $78.50/barrel, down 1.7%, and U.S. West Texas Intermediate crude closed […]
Oil prices experienced a decline of more than a dollar per barrel on Friday due to a strengthening dollar and profit-taking by traders following a strong rally. Brent crude futures settled at $79.87 per barrel, down 1.8%, while U.S. West Texas Intermediate crude futures fell 1.9% to $75.42 a barrel. The strengthening of the U.S. […]
Oil prices jumped over 1% on Thursday, hitting their highest level in almost three months. This surge came after U.S. inflation data hinted that interest rates were nearing their peak. Brent crude futures soared by $1.25 to settle at $81.36 per barrel, the highest since April 25. Similarly, U.S. West Texas Intermediate crude futures climbed […]
Today, oil prices settled higher as Brent futures surpassed the $80 per barrel threshold for the first time since May. Brent settled higher by 71 cents, or 0.9%, reaching $80.11 per barrel, while U.S. West Texas Intermediate (WTI) crude settled with a gain of 92 cents, or 1.2%, at $75.75 per barrel. The surge in […]
Oil settled at 10-week high today on a weaker U.S. dollar, rising demand forecasts and production cuts. U.S. West Texas Intermediate (WTI) crude rose $1.84 per barrel, or 2.5% per cent, to settle at $74.83 per barrel. Brent futures rose US$1.71 per barrel, or 2.2%, to settle at US$79.40 per barrel. Brent’s settlement was its […]
Oil prices experienced a slight decline today due to weak economic data from China and mounting concerns about global demand. Both WTI and Brent crude saw a minor drop, with WTI trading down $0.87 or 1.18% to close at $72.99 and Brent trading down $0.78 or 0.99% to close at $77.69. The weak economic data […]
Oil prices climbed about 3% to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Both contracts closed at their highest prices since May. “We’re knocking on the door of a major breakout to the upside. I […]
Oil prices were flat today as the market balanced tighter supplies with higher likelihood of a US interest rate hike. Minutes released on Wednesday showed that a united U.S. central bank agreed to hold rates steady at its June meeting to buy time and assess the need for further hikes, though most attendees expected they […]
Oil prices were higher today, gaining about 3% in a post-holiday response to supply cuts announced on Monday by Russia and Saudi Arabia. The Saudis announced Monday that they have agreed to extend their 1MM/bpd supply cut through August. There was no WTI settlement on Tuesday because of the U.S. holiday, so trade on Wednesday […]
Oil prices settled higher today but closed down for the quarter for the 4th quarter in a row. Signs of strengthening U.S. economic activity and sharp declines in U.S. oil inventories last week offered some support. For the day, crude was bolstered by a U.S. Commerce Department report showing annual inflation rising last month at […]