Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
“You are always free to change your mind and choose a different future, or a different past.” – Richard Bach Jobs Update Stocks closed lower on Friday of last week and lower week over week The DOW closed lower on Friday of last week, down -305.87 points (-0.7%) and closing out the week at 43,444.99, […]
Oil prices fell over 2% on Friday, with Brent settling at $71.04 per barrel, down $1.52 (-2.09%), and WTI at $67.02, down $1.68 (-2.45%). For the week, Brent dropped 4%, while WTI declined 5%, driven by weaker Chinese demand and uncertainty over U.S. Federal Reserve rate cuts. China’s crude refining in October fell 4.6% year-over-year […]
Oil prices closed slightly higher on Thursday after a large draw in U.S. fuel stocks offset oversupply and demand concerns. Brent rose 28 cents (0.4%) to $72.56 a barrel, while U.S. WTI gained 27 cents (0.4%) to $68.70. Both briefly dipped into negative territory during the session. For the week, Brent was set to lose […]
Oil prices rebounded on Wednesday, rising slightly as traders engaged in short-covering after Tuesday’s dip. Brent crude rose 39 cents (0.54%) to $72.28 a barrel, while U.S. WTI gained 31 cents (0.46%) to $68.43. Gains were capped by the dollar hitting a seven-month high, which makes oil pricier for holders of other currencies. Tuesday’s drop […]
Oil prices held near a two-week low on Tuesday after a 5% drop over two sessions, pressured by OPEC’s lowered demand forecast, a strong U.S. dollar, and underwhelming Chinese stimulus measures. Brent rose 6 cents to $71.89, and U.S. WTI gained 8 cents to $68.12, stabilizing after Monday’s lows. OPEC cut its 2024 demand growth […]
Oil prices dropped more than 2% on Monday, with Brent crude falling $2.04 (2.76%) to $71.83 per barrel and U.S. WTI crude declining $2.34 (3.32%) to $68.04 per barrel. This followed a more than 2% drop on Friday. The market was weighed down by China’s latest stimulus plan, which failed to boost investor confidence in […]
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“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison 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 259.65 points (0.59%) and closing out the […]
Oil prices fell over 2% on Friday, as supply fears from Hurricane Rafael eased and China’s economic stimulus measures underwhelmed traders. U.S. WTI crude futures dropped by $1.98 (2.7%) to $70.35 per barrel, and Brent crude fell by $1.76 (2.3%) to $73.87 per barrel. Energy producers had preemptively shut down more than 23% of Gulf […]