Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices extended their losses on Tuesday after news of a ceasefire agreement between Israel and Lebanon reduced the geopolitical risk premium. Brent crude settled down 20 cents, or 0.27%, at $72.81 per barrel, while U.S. West Texas Intermediate (WTI) fell 17 cents, or 0.25%, to close at $68.77. The ceasefire, expected to take effect […]
Oil prices dropped over $2 per barrel on Monday following reports that Israel and Lebanon had agreed in principle to a ceasefire deal to end the Israel-Hezbollah conflict. Brent crude settled at $73.01, down $2.16 (2.87%), while U.S. West Texas Intermediate (WTI) closed at $68.94, a decrease of $2.30 (3.23%). The news of potential de-escalation […]
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“In order to attain the impossible, one must attempt the absurd.”-Miguel de Cervantes Jobs Update Stocks closed higher on Friday of last week and higher week over week The DOW closed higher on Friday of last week, up 426.16 points (-0.97%) and closing out the week at 44,296.51, up 851.53 points week-over-week. The S&P 500 […]
Oil prices climbed roughly 1% on Friday, reaching a two-week high, as heightened geopolitical tensions stemming from the escalating Russia-Ukraine war boosted the market’s risk premium. Brent crude rose 94 cents (1.3%) to settle at $75.17 per barrel, while U.S. West Texas Intermediate (WTI) crude gained $1.14 (1.6%) to close at $71.24. For the week, […]
Oil prices rose nearly 2% on Thursday as escalating tensions between Russia and Ukraine raised concerns about global crude supply. Brent crude futures climbed $1.42 (1.95%) to $74.23 per barrel, while U.S. West Texas Intermediate (WTI) crude increased $1.35 (2%) to $70.10. The conflict intensified after Russian President Vladimir Putin announced a hypersonic missile strike […]
Oil prices settled lower on Wednesday, with Brent crude for January falling by $0.50 (0.68%) to $72.81 and the December WTI contract dropping $0.52 (0.75%) to $68.87. The more active WTI January contract ended at $68.75, down $0.49 (0.71%). Prices were pressured by higher-than-expected U.S. crude and gasoline stockpiles, as reported by the Energy Information […]
Oil prices were relatively flat on Tuesday, with Brent crude settling at $73.31 per barrel, up $0.01, and WTI crude closing at $69.39 per barrel, up $0.23 (0.3%). Prices remained steady as escalating tensions in the Russia-Ukraine war raised concerns about potential supply disruptions. Ukraine’s use of U.S. ATACMS missiles against Russian targets and President […]
Oil prices surged over 3% on Monday as Norway’s Johan Sverdrup oilfield halted production due to a power outage, tightening North Sea supply. Brent crude rose $2.26 (3.2%) to settle at $73.30 per barrel, while WTI gained $2.14 (3.2%) to close at $69.16. Repairs at Kazakhstan’s Tengiz oilfield, cutting output by up to 30%, further […]
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