PFL Market Reports

Oil prices were lower today ahead of the OPEC+ meeting and the EU oil ban

Oil prices were mostly unchanged, retreating from an earlier rally.

Oil prices were higher today buoyed by optimism of tighter supply and a weaker dollar.

Oil prices were higher today on expectations of a lessening of Chinas strict Covid policy

Oil prices were mixed today after both contracts initially traded lower.

Oil prices fell today in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. China reported a record number of Covid-19 cases today, stoking demand fears. “Because there’s light volume after the holiday, we’re giving up some of the gains here a […]

Oil prices sank today, continuing a streak of volatile trading as a big build in gasoline inventories surprised markets. Gasoline stocks rose by 3.1MM/bbls, but were only forecasted to have a build of 383K. “The build-in gasoline is kind of a shock,” said Phil Flynn, an analyst at Price Futures Group. “The increase in gasoline […]

Oil prices rose today after Saudi Arabia said OPEC+ was sticking with output cuts as planned. Prices pared gains later in the session as Bloomberg reported the EU watered down sanctions for a price cap on Russian oil. They are also delaying its full implementation and softening key shipping provisions. “The price cap is turning […]

Prices were volatile today as early reports from the WSJ indicated OPEC+ was planning an output hike of 500K/bbls. Initial trading led prices to 10-month lows, down more than $5/bbl. Saudi Arabia quickly came out and denied the report which led to prices decreasing later in the session Releasing more oil amid weak Chinese fuel […]