Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices rose today in a choppy trading session as investors balanced concerns about global demand growth and potential supply disruptions from political instability in Russia. Price Futures Group analyst Phil Flynn warned that Russian political instability could worsen supply shortages in the months ahead due to Saudi Arabia’s pledge to cut output from July, […]
“For to be free is not merely to cast off one’s chains, but to live in a way that respects and enhances the freedom of others.” — Nelson Mandela Jobs Update Stocks closed lower on Friday of last week and lower week over week The DOW closed lower on Friday of last week, down -219.28 […]
Oil prices were lower again today closing down week over week as the market worried about interest rate hikes and their effect on the global economy. “There seems to be a growing ‘risk back off’ type of trade now in crude, triggered by the interest rate rises in the EU and disappointing stimulus numbers out […]
Oil prices sank again today, falling almost 4% as a bigger then expected Bank of England rate hike worried markets. Fed Chair Jerome Powell said that two more rate hikes of 25bps in the US before the end of the year was “a pretty good guess”. “We’re locked in a trading range but prices are […]
Oil prices were higher today as U.S. corn and soybean prices raced to multi-month highs, raising expectations that crop shortfalls around the globe could lower biofuels blending and increase oil demand. Chicago Board of Trade corn futures rose 5.2% on Wednesday after a government report showed much of the U.S. crop being stressed by dry […]
Oil prices eased today in a choppy session on forecasts for slower oil demand growth in China. Adding to bearish sentiment, traders noted crude supplies from Iran and Russia have increased in recent weeks. “Oil locked in on anything and everything that has to do with China. This week, energy traders are seeing oil weakness […]
WTI crude was down 49 cents per barrel trading down to $71.29. WTI crude oil futures (and other commodities) did not settle today due to the Juneteenth holiday. Brent for August settlement traded down $US52 cents a barrel to settle at US$76.09 per barrel. Oil fell as China’s plans to support its economy were seen as insufficient […]
“He who is not courageous enough to take risks will accomplish nothing in life.” —Muhammad Ali 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 -108.94 points (-0.32%), closing out the week at 34,299.12, up 422.34 points week over […]
WTI for July delivery rose $1.66 per barrel to settle at $71.78 per barrel. Brent for August settlement rose 94 cents per barrel to $76.61 per barrel. Adding to this confusion are mixed signals from the physical market. Refinery outages in the U.S. and Europe are threatening to further increase crude inventories at key hubs, […]
Anyone getting whiplash out there! WTI for July delivery rose $2.35 per barrel closing at $70.62 per barrel – a one-week high. Brent for August delivery rose $2.47 per barrel closing at $75.67 per barrel. Oil rose as strengthening demand in China outweighed concerns over further interest rate hikes in the U.S at least that […]