Due to technical difficulties there will be no commentary today
Petroleum Daily Report 8-25-2020
Crude oil prices rose today hitting five month highs as producers continue to shut Gulf Coast production.
Petroleum Daily Report 8-24-2020
Crude prices rose today as double trouble storms head for the Gulf. Oil producers had shut 58% of the Gulf’s offshore oil production and 45% of natural gas production on Sunday in anticipation.
PFL Railcar Report 8-24-2020
“I can give you a six-word formula for success: Think things through–then follow through.” —Edward Rickenbacker COVID-19 and Markets Update The United States currently has 5,874,295 confirmed COVID-19 cases and 180,605 confirmed deaths. Looks like we are on a pretty decent decline in new cases being reported and hopefully we can put this nightmare behind […]
Petroleum Daily Report 8-21-2020
Oil prices fell today on continued demand concerns as the overall economic recovery in Europe is beginning to dwindle.
Petroleum Daily Report 8-20-2020
“While oil-market fundamentals may have started to normalize, much of the progress comes from the supply side, while demand continues to disappoint,”
Petroleum Daily Report 8-19-2020
Prices rose very slightly on positive inventory numbers, overshadowing demand worries. Crude stocks had a draw of 1.63MM/bbls vs a forecasted draw -2.74 MM/bbls as exports decreased 1MM/bpd.
Petroleum Daily Report 8-18-2020
“There are still ongoing concerns about COVID and there are continuing concerns about the lack of a deal in Congress for stimulus
Petroleum Daily Report 8-17-2020
China plans to boost US crude imports, even though they had been falling short of targets. Chinese state-owned oil firms have tentatively booked tankers to transport at least 20 million barrels of U.S. crude for August and September.
PFL Railcar Report 8-17-2020
North America rig count moved higher and is up 4 rigs week over week. Canada gaining 7 rigs week over week and Canada’s overall rig count rose this to 54 active rigs.