Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices were higher today trading up 2% bouncing back from multi month lows. On Monday, Brent slumped to its lowest since early January and WTI touched its lowest since February, as a global stock market rout deepened on concerns about a potential recession in the U.S. after weak jobs data. This broke a three […]
Oil prices were slightly higher today bouncing off multi month lows hit in the previous session. Investors are turning their attention to supply tightness and financial markets recovering from yesterdays slump. Iran’s vow of retaliation against Israel and the U.S. following the killing of two militant leaders has raised concerns that a wider war is […]
Oil prices were lower today starting off the session very red along with other financial markets but turned around later in the session. The market doesn’t seem to care at the moment about tensions heating up in the Middle East with all of the global attention at the moment on recession fears. Equities markets tumbled […]
“This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” Hannah Arendt 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 -610.71 (-1.51%) closing out the week at 39737.26 […]
Oil prices sank today along with other financial markets after disappointing US jobs numbers. U.S. job growth slowed more than expected in July and unemployment increased to 4.3%, pointing to raising fears of a possible recession. “We moved from a demand-driven market to a geopolitical one for maybe two days then we absolutely nosedived on […]
Oil prices were lower today as global supplies have been mostly unaffected by worries of a wider Middle East crisis. “I think there is a growing realization that we haven’t seen any real supply disruption. The market is refocusing itself away from geopolitical issues, and looking at global demand for crude,” said Dennis Kissler, senior […]
Oil prices rose today as investors worried that the conflict in the Middle East could widen. U.S. crude stocks decreased by 3.4MM/bbls last week, more than triple the 1.1MM/bbl decline analysts had expected in a Reuters poll. This is the fifth straight week that inventories declined. “Robust exports have helped to offset lower refining activity […]
Oil prices were lower today falling to seven week lows as investors worried that demand from China. Market participants have been talking for days about a possible ceasefire deal in Gaza that could reduce the geopolitical risk premium for crude prices. A ceasefire deal with Hamas has “the potential to (remove) $4 to $7 (a […]
Oil prices were lower today trading down as fears of tensions in the Middle East may have been overblown. “It seems like the market has come around to the idea that – even as horrific as these episodes are – they are not likely to cause a region-wide conflict,” said John Kilduff, partner at Again […]