Oil traded down significantly today in what was both a bizarre and unprecedented move. The front month WTI contract printed negative today for the first time in history
PFL Railcar Report 4-20-2020
It seems like GroundHog Day at this point folks but, the battle continues with COVID -19 as cases continue to rise over the weekend in the U.S. and deaths from the Chinese Virus inflicted on the United States and the rest of the world continue.
Petroleum Daily Report 4-17-2020
Oil just posted its 7th negative week over the last 8 weeks, although some optimism began to develop around a gradual economic reopening and oil production agreements kicking in.
Petroleum Daily Report 4-16-2020
In the last four weeks alone we have wiped out nearly all of the new jobs since the Great Recession in 09
Class 1s Resisting Push for Crude Storage in Rail Cars
The Class 1 railroads are telling clients that tank cars are not a viable long-term storage device for hazardous commodities such as crude. Most federal regulations require tank cars filled with crude to be moved within 48 hours
Petroleum Daily Report 4-15-2020
Crude oil prices fell again today, with WTI settling below $20/bbl, falling to 18 year lows on a historic and much larger than anticipated build in crude inventories. Crude stocks grew by 19.2MM/bbls, compared with what the API estimated would be a build of 13MM/bbls. Analysts had expected something even more moderate, at a build […]
Petroleum Daily Report 4-14-2020
Oil fell more than 10% today as demand fears continue to outweigh any positive developments on the supply side.
PFL Railcar Report 4-13-2020
“We are all born ignorant, but one must work hard to remain stupid.”
Petroleum Daily Report 4-13-2020
Despite cuts amounting to roughly 10% of global supply, in the short term it may have already been priced in.
Petroleum Daily Report 4-9-2020
BREAKING: OPEC+ agrees to historic 10MM/bpd production cut. What does this mean for crude?