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Petroleum Daily Report 5-2-2022
Oil prices were higher today, reversing course from earlier in the session as the rally in the diesel market continued.
PFL Railcar Report 5-2-2022
There is a diesel crisis upon us and it is impacting consumers and businesses in a much bigger way than the average gasoline buyer is aware of.
Petroleum Daily Report 4-29-2022
Oil prices traded down today, after initially trading higher earlier in the session in a volatile day. Heating oil prices plummeted today into expiration of the front month contract, dropping as much as 20% at one point.
Petroleum Daily Report 4-28-2022
Oil prices settled up today on the likelihood that Germany will embargo Russian oil. Germany’s Economy Minister commented that the nation could cope with an EU embargo on Russian oil.
Petroleum Daily Report 4-27-2022
Oil prices rose slightly today, trading up later in the day after trading down earlier in the session. Russia moved to cut gas shipments off to Bulgaria and Poland,
Petroleum Daily Report 4-26-2022
Oil prices rose today, rebounding from yesterday in a volatile session. China’s central bank said it will step up prudent monetary policy support to the economy, which could be a boost to oil demand.
Petroleum Daily Report 4-25-2022
Oil prices slumped today to the lowest in two weeks after falling 5% last week. Prices are now down about 25% from recent highs and net long positions are the lowest since 2020.
PFL Railcar Report 4-25-2022
Oil prices fell on Friday of last week, posting a weekly loss of almost 5% as financial markets were down across the board. Fed Chair Jerome Powell said that a 50 bps rate hike is on the table for the next Fed meeting in May which pushed the dollar to two-year highs. “At this stage, fears over China’s growth and over-tightening by the Fed, capping U.S. growth, seem to be balancing out concerns
Petroleum Daily Report 4-22-2022
Oil prices fell today, posting a weekly loss of almost 5% as financials markets were down across the board.