Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices rose today supported by a sharp drop in US crude inventories, but gains were capped by OPEC+’s plan to ease supply curbs. OPEC and Russia are primed to begin unwinding the record oil supply cuts that were agreed upon earlier this year as they aim to raise production without undermining the recovery of crude prices, a move that is being closely watched by oil traders.
Due to technical difficulties there will be no commentary today
The market seems to be anxious about this move coupled with the continued rise in virus cases. “That seems a quite risky option, with the safer being a one month extension … It may be time to brace for volatility once again,”
Cenovus Energy Inc., Husky Energy Inc. and Baytex Energy Corp. are among companies that have opened up production. According to Chief Executive Officer, Brad Corson…
Oil prices had a strong session recovering from yesterday’s drop, but still ending the week about 1% lower.
Oil and other financial markets fell today on resurgent pandemic fears. Coronavirus cases have been on the rise in 42 of the 50 U.S. states over the past two weeks, according to a Reuters analysis.
Oil prices rose again for the day despite a large build in crude stocks and a new record high level of crude stocks in the Gulf.
Oil prices were flat today as positive economic data is driving prices upwards while increasing COVID cases continues to cap gains.
Well folks as of July 1st, the total number of cars in storage was 526,450, an increase of 5,721 (10.86%) month over month and an increase of 197,560 (60.1%) year over year.
Crude oil prices traded mostly flat for the day as caution remains over spreading virus cases.