
Petroleum Daily Report 9-9-2021
Oil prices came off today, now at two week lows as China announced it would be releasing reserve crude to help with rising prices.
Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.

Oil prices came off today, now at two week lows as China announced it would be releasing reserve crude to help with rising prices.

Click here if viewing from mobile Catch up on the latest and greatest Attending Curtis Chandler [email protected] 239.405.3365

Click here if viewing from mobile Catch up on the latest and greatest Attending Curtis Chandler [email protected] 239.405.3365

New railcar orders improved to 9,500 units in the second quarter of 2021(versus 6,200 in the first quarter of 2021) and the backlog increased 8% sequentially to 37,500 units. Overall, orders improved and are now around replacement levels

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Oil prices rose today as the USD moved to one month lows and 1.7MM/bpd of Gulf production remains shut in.

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If refiners recover capacity in two to four weeks, then we should be OK. Beyond that, we will be driving inventory levels very low and prices may start to react meaningfully highe

Oil products, like gasoline and diesel, are likely to see prices rise more acutely from refinery outages especially if there are difficulties in bringing refineries and pipelines back online

New railcar orders improved to 9,500 units in the second quarter of 2021(versus 6,200 in the first quarter of 2021) and the backlog increased 8% sequentially to 37,500 units. Overall, orders improved and are now around replacement levels