Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices rose today as the Fed decided to keep rates unchanged yesterday. Todays gains broke a 3 day streak of losses as some risk appetite increased in light of the Fed decision. “If the Fed calls off the dogs, the bottom for oil should be very close to being in,” said Phil Flynn, analyst […]
Oil prices fell today to settle at a three week low on a rising US dollar. The federal reserve met today, keeping the interest rates the same as expected. They did, however, keep the door open for future rate hikes noting the strength of the US economy. Today’s settlement was the lowest since October 6th […]
Oil prices dipped today in another choppy session as some of the war fears have continued to fizzle despite an ongoing ground operation in Gaza. “We’ve taken some of the war premium out of the prices,” said Phil Flynn, analyst at Price Futures Group. Investors, however, are still weary that the conflict could escalate to […]
Oil prices fell today as fears of tension in the Middle East eased a little today. Crude jumped 3% on Friday after Israel stepped up ground incursions into Gaza, stoking worries the conflict could expand in a region that accounts for a third of global oil output. However, that concern was fading on Monday, analysts […]
The more things you do, the more you can do. – Lucille Ball Jobs Update Stocks closed mixed on Friday of last week, but lower week over week The DOW closed lower on Friday of last week, down -366.71 points (-1.12%), closing out the week at 32,417.59, down -709.69 points week-over-week. The S&P 500 closed lower […]
Oil prices rose closed out the week with a strong session today as worries of middle east tensions were front and center again. Both contracts however closed lower week over week. Brent’s premium over WTI rose to its highest since March, making it more attractive for energy firms to send ships to the U.S. to […]
Oil prices fell today as tensions in the middle east simmered down, although the conflict is far from over. “The market is on edge,” said Price Futures analyst Phil Flynn. “It’s critical to understand that we’re one headline away from a big rally in the market. “Worries about the broader global economy also weighed on […]
Oil prices rose about 2% today despite a rise in crude inventories. Middle east tensions continue to capture headlines but gains are capped by gloomy economic prospects both here and abroad. US crude inventories rose by 1.4MM/bbls, exceeding the forecasted rise of 240K/bbls. The EIA data “is more bearish because it’s a big switch from […]
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 […]