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PFL Railcar Report 4-8-2024
“Success is the sum of small efforts – repeated day in and day out.” – Robert Collier Jobs Update Stocks closed higher on Friday of last week, but lower week over week The DOW closed higher on Friday of last week, up 307.06 points (0.8%), closing out the week at 38,907.04, down -903.33 points week-over-week. […]
Petroleum Daily Report 4-5-2024
Oil prices rose again today closing out a strong week as markets are on edge about direct conflict between Israel and Iran. Both contracts are up more than 4% on the week. Meanwhile OPEC+ producers are pressing some countries to increase compliance with output cuts. “Further clampdowns on adherence to quotas should see output fall […]
Petroleum Daily Report 4-4-2024
Brent settled above $90 today for the first time since October as geopolitical tensions continue to remain front and center. Oil rose on Thursday following news reports that Israeli embassies across the world have been placed on high alert due to increasing threats of an Iranian attack on Israeli diplomats. Iran, the third-largest producer in […]
Petroleum Daily Report 4-3-2024
Oil prices traded higher today settling at the highest level since October despite a jump in Crude inventories as investors remained concerned about supply disruptions. Crude inventories increased by 3.2MM/bbls last week versus a forecasted decline 1.5MM/bbls. “The EIA report went in the other direction on crude oil from what the API reported yesterday, so […]
Petroleum Daily Report 4-2-2024
Oil prices were higher today with Brent trading above $89 for the first time since October. Russia, among the top three global oil producers and one of the largest exporters of oil products, has been contending with Ukrainian attacks on oil refineries and has also attacked Ukrainian energy infrastructure. “The likelihood that continued restricted Russian […]
Petroleum Daily Report 4-1-2024
Oil prices were higher today trading up to 5 month highs. Expectations of economic growth in the US and China have been a catalyst. In China, manufacturing activity in March expanded for the first time in six months, according to an official factory survey. “Chinese oil demand is arguably the one missing factor outside of […]
PFL Railcar Report 4-1-2024
“You do not write your life with words…You write it with actions. What you think is not important. It is only important what you do.”― Patrick Ness Jobs Update Stocks closed mixed on Thursday of last week, and mixed week over week The DOW closed higher on Thursday of last week, up 47.29 points (0.12%), […]
RIN Recap 4-1-2024
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Petroleum Daily Report 3-28-2024
Oil prices rose today closing out the month higher on the prospect of OPEC+ continuing to keep production cuts in place. Speaking about yesterday’s jump in crude inventories “We … expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit,” SEB analyst Bjarne Schieldrop said. “This […]