PFL Market Reports

Oil prices dipped on Friday as fears of a U.S. tariff-driven global recession weighed on sentiment, but they still posted a third consecutive weekly gain, driven by Washington’s increasing pressure on Venezuela and Iran. Brent crude futures fell 40 cents (0.5%) to settle at $73.63 a barrel, while WTI declined 56 cents (0.8%) to close […]

Brent crude rose 24 cents (0.3%) to settle at $74.03 per barrel, while WTI gained 27 cents to close at $69.92. This followed a 1% increase on Wednesday, pushing prices to their highest levels since February. Market focus remained on trade tensions as President Trump announced a 25% tariff on imported cars and light trucks, […]

Oil prices climbed on Wednesday, driven by a sharper-than-expected drop in U.S. crude and fuel inventories and mounting concerns over tighter global supply following the U.S. threat of tariffs on Venezuelan crude buyers. Brent crude settled up 77 cents (1.05%) at $73.79 per barrel, while WTI gained 65 cents (0.94%) to close at $69.65. At […]

Oil prices diverged on Tuesday as a truce between Russia and Ukraine on maritime and energy targets offset concerns over potential U.S. tariffs on countries importing Venezuelan oil. Brent crude settled slightly higher by 2 cents at $73.02, while WTI declined 11 cents to $69. The U.S. brokered agreements with Russia and Ukraine to halt […]

Oil prices rose 1% on Monday after President Trump announced a 25% tariff on countries purchasing oil and gas from Venezuela. Brent crude increased 84 cents (1.2%) to $73, while WTI gained 83 cents (1.2%) to $69.11. However, price gains were limited as the U.S. granted Chevron until May 27 to wind down its Venezuelan […]

Oil prices settled higher on Friday, marking a second consecutive weekly gain as fresh U.S. sanctions on Iran and OPEC+ output plans signaled tighter supply. Brent crude rose 16 cents (0.2%) to $72.16, while WTI increased 21 cents (0.3%) to $68.28. For the week, Brent gained 2.1% and WTI 1.6%, their largest increases since early […]