Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices slid today as the Suez Canal reopened to traffic. The backlog is now currently 422 ships, which could be cleared in 3 and ½ days. All eyes turned to the OPEC+ meeting scheduled for later this week with both major players (Russia, Saudi Arabia) expected to support extending cuts through May. JP Morgan […]
Oil prices were higher today as the logjam in the Suez Canal continued. The stranded ship, the Ever Given, was broken
The threat is not limited to Ohio or its refineries; it extends to workers, consumers and industries throughout Michigan, Ohio, Indiana and the surrounding region and could result in additional layoffs and other economic harm
Oil prices traded up today on concerns it could take weeks to clear the giant container ship blocking the Suez Canal. Of the 39.2 MM/bpd of total seaborne crude in 2020,
Oil prices rebounded today on news of a ship running aground in the Suez Canal.
Oil prices continued to tumble as Fed Chair Powell and Treasury Sec Yellen testified today. The two admitted that “valuations are high” in “pockets of the market” but stopped short of saying there were any major problems
Nearly a third of French people entered a month-long lockdown on Saturday while Germany plans to extend its lockdown into a fifth month,
A group of twenty one states is suing the Biden administration for its cancelation of the Keystone XL pipeline
A sharp rise in the value of the dollar after yesterday’s U.S. Federal Reserve meeting is also contributing to the oil sell-off.
Oil prices slipped for a fourth consecutive day on rising crude inventories and weak product demand. Crude inventories rose by 2.4MM/bbls, vs a forecasted decline of 1MM/bbls. Crude inventories have now risen for four straight weeks with issues stemming from the freeze last month