Oil prices traded up for the day, whipsawing up near the end of the session on hopes of a
production cut tomorrow.
Petroleum Daily Report 4-7-2020
No commentary today
Petroleum Daily Report 4-6-2020
Peter Cecchini of Cantor Fitzgerald said this today on CNBC “I’m really, frankly, not all that convinced that this is an all-out fist-fight between Saudi Arabia and Russia.
PFL Railcar Report 4-6-2020
We lost a whopping 6 million jobs last week. Expect closer to 9 million job losses this week.
PFL Railcar Storage Report 4-6-2020
Storage continues to be very active as demand destruction from COVID-19 reaps havoc in the world and particularly in the U.S.
Petroleum Daily Report 4-3-2020
Oil prices posted their best week in history on the hope that a production cut deal will soon be reached. OPEC and its allies announced they will hold a virtual meeting on Monday
Petroleum Daily Report 4-1-2020
Whiting Petroleum officially became the first high profile shale bankruptcy of the cycle, but there are likely more to come.
Petroleum Daily Report 3-31-2020
The Kremlin announced yesterday the President Trump and Putin agreed during a phone call to have their top energy officials discuss stabilizing oil markets. Although the futures market is seeing a recovery
PFL Railcar Report 3-30-2020
Jobs have always been a concern from the onset of the virus, as cash strapped small businesses had no choice but to lay people off after being forced to shut down their businesses.
Petroleum Daily Report 3-30-2020
Oil slid down to 18 year lows with WTI breaking below $20 at multiple points within the session. The oil market supply chains are broken due to the unbelievably large losses in oil demand.