Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices were slightly lower today as headwinds continued to counterbalance wider expectations of an extension of output cuts. However, the end of a warm winter across the northern hemisphere is weighing on oil prices despite the OPEC+ announcement. U.S. product supplies of distillate fuel oil, which includes heating oil, declined in December to 3.61 […]
“The way to gain a good reputation is to endeavor to be what you desire to appear.”– Socrates 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 90.99 points (0.23%), closing out the week at 39,087.38, down -44.15 points […]
Oil prices rose 2% on Friday and posted weekly gains as traders awaited an OPEC+ decision on supply agreements for the second quarter. “The expectation that OPEC+ is going to continue with their voluntary production cuts well into the second quarter of 2024 is the main focus on the market,” said Andrew Lipow, president of […]
Oil prices were lower today as US inflation data implied a softening of the US economy. “The economic data, which is mixed, is helping to argue for interest rate cuts for the Fed, which is supportive of oil demand,” said John Kilduff, partner with Again Capital LLC. “At the same time, those cuts are going […]
Oil prices were mostly flat today after the Fed held firm on its decision to hold off in rate cuts in the near future. U.S. crude inventories rose by 4.2 million barrels last week, surpassing analysts’ expectations of 2.74 million. Stockpiles have risen for five consecutive weeks due to unplanned refinery outages following a winter […]
Oil prices were higher today, rising about $1/bbl as OPEC+ is contemplating extending voluntary output cuts. Sources are telling Reuters OPEC+ could keep the additional cuts in place until the end of the year. “We are going to see some tight supplies down the road,” said Dennis Kissler, senior vice president of trading at BOK […]
Oil prices were higher today but underlying concerns remain, especially in the diesel market. A slump in U.S. refining activity and disruptions to global trade have tightened diesel supplies in recent weeks, dampening historically high U.S. diesel exports to Europe this month. U.S. diesel cracks briefly surged to a four-month high of more than $48 […]
“Face the simple fact before it comes involved. Solve the small problem before it becomes big.”– Lao Tzu Jobs Update Stocks closed mixed on Friday of last week and mixed week over week The DOW closed higher on Friday of last week, up 62.42 points (0.16%), closing out the week at 39,131.53, up 503.54 points […]