PFL Market Reports

There will be no commentary today.

With increased demand and tighter gasoline supplies, we are looking at more expensive pump prices with little relief in the weeks ahead,

The decision by major producers to cut production along with optimism over demand has allowed crude pricing to stay near $70 per barrel.

Crude oil prices brushed off bearish inventory reports from the EIA with prices settling higher. Brent settled up $1.73 to $69.63 while WTI gained $1.58 to settle at $66.02. US fuel consumption increased 10% last week from the prior week and shows signs of continued increase. “Refined products and particularly gasoline has been leading the […]

Gasoline stocks fell… (which) provided the bullish offset and eventually sent oil prices higher on the strong demand for end products, hence an economic recovery

Oil prices fell today after a choppy session, coming off yesterday’s post-pandemic highs following an attack on Saudi crude production assets. Market sentiment is turning more cautious as analysts and investment banks are expecting some correction from these levels.

On Mobile? Click here to download the PDF The oil rally slowed today with news of a strengthening dollar despite the attack on the crude oil terminal in Saudi Arabia. Production and export capabilities following the attack in Saudi Arabia came out relatively unscathed, so the market has taken that as a cue for some […]