Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
“Don’t do something permanently stupid because you’re temporarily upset“ Weekly Jobless Down Marginally Week over Week Stocks mostly up Friday of last week and up week over week Stocks set fresh record highs on Friday, with traders hoping that a bipartisan infrastructure deal would help further stoke economic activity. The Dow closed higher on Friday […]
Oil prices continued to rise today, supported by yesterday’s inventory draw down and doubts about negotiations on the Iran deal.
Oil prices had a strong session, buoyed by positive EIA data showing mostly positive inventory numbers and growing demand.
Crude oil prices were steady, coming off a little today from yesterdays close. OPEC+ is discussing another gradual output increase from August, but no final decision has yet been made.
Oil prices rallied today as the recent dollar strength has started to come off. A new hardline President will be taking office in Iran, which seems to have clouded the prospects for the Iranian nuclear deal
According to Goldman Sachs, strong U.S. demand growth is being passed on to Europe and emerging markets, where India is showing improvements. Global oil demand has hit 97 million barrels per oil per day recently, up from 95 million barrels per day from just a few weeks ago. Consumption before the pandemic stood at 100 million barrels per day, so we are almost there folks!
Oil prices rose today, despite the dollar continuing to rise, as OPEC sources said the group is expecting limited output increases out of the US. Shale output is expected to surge in 2022,
There was no market commentary for 6-17
Oil traded mostly flat today, hovering around multiyear highs as the Fed
has moved up its timeline for interest rate increases.
Oil prices continued to rise today, unabashed by lower than expected retail sales numbers that included consumers trimming purchases of autos, electronics, building materials etc.