Oil had a strong day with Brent rising above the $50/bbl mark for the first time since March, led higher by improving sentiment around the vaccine and demand recovery
Petroleum Daily Report 12-9-2020
Oil prices were surprisingly flat today despite a massive (bearish) shock on today’s inventory report. Crude stocks had a build of 15.19 MM/bbls, versus a forecasted draw of -1.15MM/bbls.
Petroleum Daily Report 12-8-2020
Oil prices were mostly flat for the day, not a lot of market moving news. Hope for a stimulus deal seems to be dying off but
Petroleum Daily Report 12-7-2020
Vaccine optimism (euphoria?) is also outweighing the news of record Covid deaths and hospitalizations here in the US. “We’re higher, despite super bearish events – it’s all about stimulus,”
PFL Railcar Storage Report 12-7-2020
As of December 1st, the total number of cars in storage continued to decline for the fifth consecutive month to 428,544 cars, granted at a slower pace as car storage numbers begin to normalize.
PFL Railcar Report 12-7-2020
The Bureau of Labor Statistics announced on Friday of last week that 245,000 net new jobs were created in November 2020.
Petroleum Daily Report 12-4-2020
Oil prices rose today, buoyed by hopes of a US stimulus deal which is gaining bipartisan momentum.
Petroleum Daily Report 12-3-2020
Oil prices edged up today on an OPEC+ deal and bullish jobs report. OPEC+ agreed to a modest output increase beginning
Petroleum Daily Report 12-2-2020
“News of the U.K. vaccine approval is what the oil market needed more than anything else to get demand up…the rest is largely just noise,”
Petroleum Daily Report 12-1-2020
Oil prices extended losses today for a second day as OPEC+ pushed its formal meeting to Thursday