Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
“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 […]
“I’d rather live with a tender heart, because that is the key to feeling the beat of all the other hearts.”– Jenny Slate Jobs Update Stocks closed higher on Friday of last week, but mixed week over week The DOW closed higher on Friday of last week, up 654.27 points (1.64%), closing out the week […]
Oil prices were lower today finishing the week lower on declining Chinese demand. Data released last week showing that China’s total fuel oil imports, opens new tab dropped 11% in the first half of 2024 have raised concern about the wider demand outlook in China. “Yesterday’s better-than-expected U.S. GDP growth figures initially supported the crude […]