Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
BREAKING: President Trump announced the administration will be buying ”large quantities” of “cheap oil” to fill the US Strategic Petroleum Reserve “up to the top”. Oil prices moved modestly higher for the day but posted their worst week since 2008 as traders cope with abundant supply and evaporating demand. One point to note is trading […]
This $248.5 million federal investment will upgrade rail infrastructure and enhance safety on the tracks and at railroad crossings in rural and urban communities across America
This was the worst day for DJIA since Black Monday, as the day was plagued with news such as professional sports league cancellations, the shuttering of Disneyland, and large corporate drawdowns of credit facilities
Storage has become a major topic at the conferences. Curtis Chandler sat on the SEARS Storage Panel to gave his expert advice on how to handle excess railcars
Oil prices came off today after yesterday’s surge as the WHO has now declared COVID-19 a global pandemic.
The US has cited this price war to show its importance in international markets as a reliable supplier and partner. All eyes also remain on the coronavirus and its impacts as the virus’ spread across the US increases.
Oil prices had a historic plunge with US crude dropping 24% as the Dow fell 2000 points and Treasury yields hit another all-time low.
Dow Jones futures plummeted Sunday night in overseas trading, along with S&P 500 futures and Nasdaq futures, as an all-out crude oil price war adds to coronavirus fears. Trading in S&P futures was halted in overnight trading once levels hit the maximum allowed drop of 5%.
Demand destruction and unfavorable price spreads have caused an increase in loaded storage across various energy products.
“A cut from OPEC of even 1 million barrels a day would be supportive to
the market