Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil had a strong session today settling up about 3% as tensions in the Middle East continue to mount. Tensions are flaring from Gaza to Lebanon and the Red Sea prompting concerns that a wider Middle East conflict could develop and close crucial oil transport waterways. Federal Reserve officials appeared increasingly convinced inflation was coming […]
Oil prices were lower today settling down as expectations for interest cuts waned. “The market is correcting itself in so far as there have been no supply disruptions and they think it is unlikely that the Iranian warship will engage with American warships,” said Andrew Lipow, president of Lipow Oil Associates. On Sunday, U.S. helicopters […]
“It does not matter how slowly you go as long as you do not stop.“ – Confucius Jobs Update Stocks closed lower on Friday of last week, but higher week over week The DOW closed lower on Friday of last week, down -20.56 points (-0.06%), closing out the week at 37,689.54, up 303.57 points week-over-week. […]
Oil prices traded down slightly today but were mostly flat. As the year comes to an end oil prices closed down 10% year over year, closing at the lowest year end levels since 2020. A Reuters survey of 34 economists and analysts forecast Brent crude will average $82.56 in 2024, down from November’s $84.43 consensus, […]
Oil prices settled down today trading down as more shipping companies say they are again ready to transit the Red Sea route. “The perception is that the Red Sea route is reopening and will bring supply to market weeks faster,” Price Futures Group analyst Phil Flynn said. The U.S. Energy Information Administration reported a much […]
Oil prices dropped nearly 2% today, eating into yesterday’s gains as investors monitor developments in the Red Sea. Danish shipping company Maersk said it has scheduled several dozen container vessels to travel via the Suez Canal and Red Sea in the coming weeks after calling a temporary halt to those routes this month after attacks […]
U.S. West Texas Intermediate crude rose by $2.01 per barrel, or 2.7%, to close at $75.57 per barrel. Brent crude futures settled higher as well at $81.07 a barrel (2.5% higher), after rising as much as 3.4% during the trading session. Oil climbed to its highest level this month, as further attacks on ships in […]
“A wise man can learn more from a foolish question than a fool can learn from a wise answer.” – Bruce Lee Jobs Update Stocks closed mixed on Friday of last week, but higher week over week The DOW closed lower on Friday of last week, down -18.38 points (-0.05%), closing out the week at […]