“The 16 million bpd oversupply in crude during April could be reversed altogether by June, helped by a 4 million-bpd recovery in crude demand and a 12 million-bpd cut in crude supply,”
PFL Railcar Report 5-26-2020
Well folks, the United States are now open for business with all states now open in some capacity
Petroleum Daily Report 5-22-2020
The oil rally lost some steam today as tensions between the US and China are beginning to res-escalate.
Petroleum Daily Report 5-21-2020
Oil jumped to highest levels since March as the rally in the oil markets
continues.
Petroleum Daily Report 5-20-2020
Oil continued its rally today with the demand picture looking better each day
as well as a surprise drop in crude stockpiles.
Petroleum Daily Report 5-19-2020
Crude oil prices rose again today as OPEC cuts and the reopening of global economies are starting to balance out the supply demand equation.
PFL Railcar Report 5-18-2020
“Politics is the ability to foretell what is going to happen tomorrow, next week, next month and next year and to have the ability afterwards to explain why it didn’t happen. ” Winston Churchill COVID 19 and Markets Update In the United States, we currently have 1.52 million confirmed COVID 19 cases and 89,932 confirmed deaths. […]
Petroleum Daily Report 5-15-2020
Oil prices rose again today with US prices hitting their highest level since March as China reported strong refinery utilization numbers.
Petroleum Daily Report 5-14-2020
Oil prices surged today after yesterday’s surprise draw in inventories, declining for the first time in 15 weeks. Prices have been on an uptrend for the last few weeks as optimism around global reopening is painting a picture of increased demand.
Petroleum Daily Report 5-13-2020
Despite a surprise draw in crude inventories, and probably the most bullish EIA report since January, crude prices traded down on the back of some very solemn comments from Fed chief Jerome Powell.