
Petroleum Daily Report 2-2-2023
Prices slumped after data was released showing orders for industrial equipment and other machinery fell.
Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.

Prices slumped after data was released showing orders for industrial equipment and other machinery fell.

Oil prices were hit hard today after EIA data showed big builds in crude inventories.

Oil prices fell again today extending last week’s losses as this week’s Federal Reserve meeting looms.

Oil prices fell again today extending last week’s losses as this week’s Federal Reserve meeting looms

Rystad on Tuesday of last week said it expects “significant” growth in U.S. shale natural gas production, with an increase of 6.9 billion cubic feet per day

Indications are that will strong Russian oil supply could offset some of the bullish fundamentals such as the recovery in Chinese demand.

Oil prices were higher today, rising 2% on expectations of rising global demand.

Oil prices were steady today after yesterday’s rout, supported by smaller than expected build in crude inventories

Oil prices were lower today on concerns about a global economic slowdown

Oil prices were mixed today but mostly flat as investors took profits later in the session.