PFL Market Reports

Oil prices continued to climb today along with equity markets as a stronger-than-expected US jobs report. Brent is up over 4% on the week and WTI is up over 7% on the week.

Oil prices had another strong session, with both contracts rallying around 5% on positive news from OPEC+. Prices again hit fresh highs not seen in over a year.

Oil prices were strong today, on the back of an extraordinary EIA report, as Reuters reported OPEC+ is considering

Oil prices are down today (down over 7% over the last week or so) as OPEC+ is set to meet later this week.

(Oil) continues to benefit, just like copper, from expectations that supply will be kept tight while demand continues to recover,

(Oil) continues to benefit, just like copper, from expectations that supply will be kept tight while demand continues to recover,

Oil closed mostly flat today after initially trading to year+ highs earlier in the session. OPEC+ will meet again March 4th, and sources are reporting the group will discuss a modest increase in production.

Oil prices climbed to fresh highs today as EIA showed a drop in crude output. Production dropped more than 1MM/bpd and analysts are wondering how long it will take to get some of this production back on, if ever.

Oil prices had a strong day as production will be coming back slower than anticipated. “We believe that both the crude and gasoline markets have yet to fully discount last week’s sizable reduction in Gulf coast crude production as well as a major decline in refinery activity,”