Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices were lower today as crude inventories unexpectedly rose last week. Crude inventories rose 1.4MM/bbls, compared to estimates for a 2.2MM/bbls drop. “That six week draw was a pretty impressive but that’s in the rearview mirror. The fact that we snapped the streak should weigh on prices a little bit,” said Robert Yawger, director […]
Oil prices were lower today trading down as traders grew less nervous about escalation and a wider conflict in the Middle East. “The markets had priced in an imminent attack by Iran against Israel within 24 to 48 hours,” said Phil Flynn, senior analyst at Price Futures Group. “That hasn’t happened. The market is taking […]
Oil prices rallied today rising for a fifth consecutive session on expectations of a widening Middle East conflict. The U.S. Defense Department said over the weekend that it will send a guided missile submarine to the Middle East as the region braces for chaos. “We’re piling assets one on top of the other and giving […]
“It is an immutable law in business that words are words, explanations are explanations, promises are promises-but only performance is reality.” -Harold S. Geneen 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 51.05 points (+0.13%) closing out the […]
Oil was higher today and traded up over 3% for the week as positive economic data and signals from the Fed indicating September rate cuts helped push prices up. Fears of escalating tensions in the Middle East also raised supply risks. A trio of Federal Reserve policymakers indicated on Thursday that they were more confident […]
Oil prices settled higher today for the third consecutive session after US jobs data eased demand concerns and war in the Middle East helped prices recover from Mondays 8-month lows. “The latest U.S. data on jobless claims indicates still a growing U.S. economy, reducing some of the oil demand concerns,” UBS analyst Giovanni Staunovo said. […]
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 […]