Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices were lower today, closing down week over week for their steepest weekly loss in three months. Investors are weighing weak US jobs data as it relates to possible timing of a Fed interest rate cut. Higher for longer rates would curb economic growth in the worlds leading oil consuming nation. US job growth […]
Oil prices were lower today near their lowest levels in almost two months under pressure from weaker global demand and rising inventories. Both benchmarks closed below their 200 day moving average. “Now it’s all a story of demand as risk premium from tensions in the Middle East seen last month morphs into residual risk,” said […]
U.S. oil prices fell more than they have in months on today, dropping below $80 per barrel for the first time since March in response to signs of weak demand and an easing of Middle East tensions. The strong dollar isn’t helping either. Oil, which is priced in dollars, tends to fall when the greenback […]
Oil prices fell 1% on Tuesday, extending losses from Monday, on the back of rising U.S. crude production, as well as hopes of an Israel-Hamas ceasefire. U.S. crude production rose to 13.15 million barrels per day (bpd) in February from 12.58 million bpd in January in its biggest monthly increase since October 2021 according to […]
Oil prices were lower today trading down as Middle East tensions eased. “You’re seeing the geopolitical risk premium leak out again today because of no new escalation in the Israel-Hamas situation,” said John Kilduff, partner at Again Capital LLC. “A ceasefire or hostage negation release would take out even more risk premium.” U.S. monthly inflation […]
“Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so. “ – Douglas Adams Jobs Update Stocks closed higher on Friday of last week and up week over week The DOW closed higher on Friday of last week, […]
Oil prices settled higher today, garnering support from middle east tensions but a stronger dollar gave prices a ceiling. Israel stepped up air strikes on Rafah on Thursday after saying it would evacuate civilians from city in southern Gaza and launch an assault if no progress was made on the hostages. “Israel is not afraid […]
Oil prices were higher today on worries of Middle East supply disruptions. Treasury Secretary Janet Yellen told Reuters U.S. economic growth was likely stronger than suggested by weaker-than-expected quarterly data. Before Yellen’s comments, oil prices had been pressured by data showing economic growth slowed more than expected in the first quarter. An acceleration in inflation […]
Oil prices were lower today as worries over Middle east conflict continued to ease. “It appears the fundamentals that we trade with are leaning towards a little settling down in the Middle East,” said Tim Snyder, economist at Matador Economics. A draw in US crude inventories this week gave prices a floor as stockpiles fell […]