Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices surged today, recouping some of last weeks losses as tensions in the middle east cause fears of a wider conflict potentially disrupting oil flows. “The most serious outcome for crude is that the conflict escalates into a more devastating proxy war which could affect crude supply,” said Rebecca Babin, senior energy trader at […]
“Life is like a coin. You can spend it any way you wish, but you only spend it once.” — Lillian Dickson Jobs Update Stocks closed higher on Friday of last week and up week over week The DOW closed higher on Friday of last week, up 288.014 points (0.87%), closing out the week at 33,407.58, […]
Oil prices managed a gain today but still suffered steep losses week over week, with the largest weekly decline since March. Brent posted a weekly decline of 11% while WTI posted a drop of 8%. US job growth surprised to the upside, far exceeding analysts forecasts and increasing worries of further rate hikes. “Today’s (jobs) […]
Oil prices were lower again today extending yesterday’s losses as worries about fuel demand are outweighing OPEC+s decision to main oil output cuts. Brent and WTI have declined about $10/bbl in less than 10 days. “This is typical speculative trading activity – trying to make the best out of a bad situation after the bloodbath […]
Oil prices tanked today falling more than 5.5% as fuel demand destruction and a bleaker macroeconomic picture took center stage. Finished motor gasoline supplied, a proxy for demand, fell last week to about 8 million bpd, its lowest since the start of this year. Some of that lost demand could be attributed to torrential rainstorms […]
Oil prices rebounded today settling slightly higher. Prices have been under pressure lately as the dollar continues to gain, rising today to a 10 month high. A tight labor market has prompted fears the Fed could continue to raise interest rates. “We have seen an incredible increase in the yields and the dollar and that’s […]
Oil prices were lower today falling off about 2% the dollar strengthened and traders took profits. Concerns about rising supplies and high interest rates also pressured prices taking them down to 3 week lows. Before the crude price pullback that started on Sept. 28, U.S. speculators boosted their net long futures and options positions on […]
“What is now proved was once only imagined.” ― William Blake Jobs Update Stocks closed mixed on Friday of last week and mixed week over week The DOW closed lower on Friday of last week, down -158.84 points (-0.47%), closing out the week at 33,507.5, down -456.34 points week-over-week. The S&P 500 closed lower on […]
Oil prices were lower today as investors continued to take profits. The headline number however is prices closed up about 30% on the quarter. Oil and gas activity in three U.S. energy producing states has been rising with the latest jump in prices, according to a survey by the Federal Reserve Bank of Dallas. In […]
Oil prices eased about 1% today as traders took profits after prices rose to 10 month highs. Rising interest rate worries are also dragging down sentiment. “Oil was ripe for a pullback. After coming a few dollars short of the $100 level, energy traders are quickly locking in profits,” Edward Moya, senior market analyst at […]