
Petroleum Daily Report 5-28-2020
Crude oil prices rose midday, erasing earlier losses on signs of rising gasoline demand and improving refinery runs.
Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.

Crude oil prices rose midday, erasing earlier losses on signs of rising gasoline demand and improving refinery runs.

Oil prices fell today as President Trump is looking to increase pressure on China.

“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,”

Well folks, the United States are now open for business with all states now open in some capacity

The oil rally lost some steam today as tensions between the US and China are beginning to res-escalate.

Oil jumped to highest levels since March as the rally in the oil markets
continues.

Oil continued its rally today with the demand picture looking better each day
as well as a surprise drop in crude stockpiles.

Crude oil prices rose again today as OPEC cuts and the reopening of global economies are starting to balance out the supply demand equation.

“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. […]

Oil prices rose again today with US prices hitting their highest level since March as China reported strong refinery utilization numbers.