Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Oil prices fell today and posted a weekly loss as US jobs data shrank the odds of imminent interest rate cuts. Both benchmarks were down 7% on the week. “Prices were chugging along little changed prior to the report, but a huge beat on jobs created is kicking the can down the road for interest […]
Oil prices traded down after a large US refinery shut down. BP on Thursday said it was in the process of shutting down its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery after a power outage. However tensions in the Middle East have continued to provide support for oil prices. Attacks by Yemen-based Houthi forces on vessels […]
Oil prices settled lower today pressured by economic activity in China. Manufacturing activity in China, the world’s second-largest economy, contracted for a fourth straight month in January, an official factory survey showed on Wednesday. The latest sign of the broader Chinese economy struggling to regain momentum came days after a court ordered the liquidation of […]
Oil prices were higher today as global tensions outweighed concerns about Chinese demand. On Monday, both crude contracts fell by more than $1 as a deepening real estate crisis in China fueled concerns over demand in the world’s biggest crude consumer, with a Hong Kong court ordering the liquidation of property company China Evergrande Group. […]
Oil prices fell today after trading up earlier in the session. Both benchmarks had gained about 1.5% early in Monday trade, with Brent prices touching their highest since early November after a fuel tanker was hit by a missile in the Red Sea and U.S. troops were attacked in Jordan near the Syrian border. The […]
“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.” – John Quincy Adams Jobs Update Stocks closed mixed on Friday of last week, but up week over week The DOW closed higher on Friday of last week, up 60.30 points (0.16%), closing out the week […]
Oil prices were higher today and rose for a second week in a row. This was the highest close in nearly months as positive US economic growth and signs of Chinese stimulus boosted demand expectations. “Economic stimulus from China, stronger-than-expected 4Q GDP growth in the U.S., cooling U.S. inflation data, ongoing geopolitical risks, and the […]
Oil prices were higher today gaining about 3% to settle at the highest close since December. Geopolitical tensions in the Middle East and disruptions to shipping in the Red Sea corridor remained in focus during today’s session. “We are finally seeing energy markets wake up to the distinct possibility that these supply chain disruptions will […]
Oil prices edged up slightly today on bigger than expected inventory draws and the ongoing slump in US crude output. “It’s a weather report all-around … Nobody was driving (last week). One big number is domestic production was down, and Bakken production took a big hit,” said Bob Yawger, director of energy futures at Mizuho. […]