
Petroleum Daily Report 11-22-2021
Click here if viewing from mobile Attending: Curtis Chandler [email protected] 239.405.3365 David Cohen [email protected] 954.729.4774
Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.

Click here if viewing from mobile Attending: Curtis Chandler [email protected] 239.405.3365 David Cohen [email protected] 954.729.4774

Oil posted its largest weekly drop since August as Europe’s worsening COVID-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. The wave of infections in Europe is growing once again and raising the prospect of mobility restrictions that would hit oil demand. Austria imposed a lockdown while Germany has introduced some restrictions.

Japan and South Korea have shown resistance to releasing reserves, so we’re coming back up a little bit

Oil prices slumped Wednesday after OPEC and the IEA warned of looming oversupply issues paired with

if you look at what is happening on the demand side, there you get some questions. Demand is robust today but will it be robust in six months’ time?

Click here if viewing from mobile Attending: Curtis Chandler [email protected] 239.405.3365 David Cohen [email protected] 954.729.4774

According to the EIA, the average U.S. residential price of propane reached $2.59 per gallon as of October 4, 2021, the highest price reported for the first week of the winter heating season since 2011

Oil prices fell today, posting their third drop week over week, wiping out gains from yesterday’s session. The market is still concerned with worries that the Fed will accelerate its plans to boost interest rates to tame inflation

Oil prices bounced slightly today, grappling with a stronger dollar and OPEC cutting its 2021 oil demand forecast on higher prices.

Oil prices traded down today, plunging into todays close as the dollar surged amidst a broader surge in inflation.