{"id":10596,"date":"2023-06-12T21:34:48","date_gmt":"2023-06-13T01:34:48","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=10596"},"modified":"2023-07-28T12:26:35","modified_gmt":"2023-07-28T16:26:35","slug":"petroleum-daily-report-6-12-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2023\/","title":{"rendered":"Petroleum Daily Report 6-12-2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The rug was pulled out from below oil prices as jitters around the US Federal Reserve meeting later this week sparked a sharp selloff. Goldman Sachs cut its oil price forecasts early on Sunday, citing higher-than-expected supplies later this year and through 2024. The bank&#8217;s December crude price forecast now stands at $86 a barrel for Brent, down from $95, and at $81 a barrel for WTI, down from $89. &#8220;Goldman capitulating on their bullish price forecast appears to have been the catalyst to kick start selling today,&#8221; said Kpler analyst Matt Smith. The revision comes at the start of a busy week for the U.S. Federal Reserve, which meets on Wednesday. While the Fed is expected to leave interest rates unchanged this month, investors are concerned that rate hikes are likely to resume next month, said UBS analyst Robert Yawger. WTI traded down $3.05 or -4.4% to close at $67.12. Brent traded down $2.95 or -3.9% to close at $71.84.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/06\/Petroleum_Daily6122023.pdf\" download>On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n<embed src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/06\/Petroleum_Daily6122023.pdf\" type=\"application\/pdf\" width=\"100%\" height=\"960\" title=\"Crude Oil Report\" alt=\"\">\n\n\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Stampede-2026.jpg\" alt=\"Stampede\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Calgary<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), Curtis Chandler(239-405-3365), Cyndi Popov (403-402-5043)   <\/li>\r\n\t<\/ul>\r\n<\/font>\r\n\r\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Mars-Lake-Geneva-2026.jpg\" alt=\"swars\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Grand Geneva Resort<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.mwrailshippers.com\/event\/2026-summer-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/li>\r\n\t<\/ul>\r\n<\/font>\n","protected":false},"excerpt":{"rendered":"<p>The rug was pulled out from below oil prices as jitters around the US Federal Reserve meeting later this week sparked a sharp selloff. Goldman Sachs cut its oil price forecasts early on Sunday, citing higher-than-expected supplies later this year and through 2024. The bank&#8217;s December crude price forecast now stands at $86 a barrel [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8773,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-10596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Petroleum Markets Report for June 12th, 2023<\/title>\n<meta name=\"description\" content=\"WTI traded down $3.05 or -4.4% to close at $67.12. Brent traded down $2.95 or -3.9% to close at $71.84.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 6-12-2023\",\"datePublished\":\"2023-06-13T01:34:48+00:00\",\"dateModified\":\"2023-07-28T16:26:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/\"},\"wordCount\":171,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/petroleum-daily.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/\",\"name\":\"The PFL Petroleum Markets Report for June 12th, 2023\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/petroleum-daily.jpg\",\"datePublished\":\"2023-06-13T01:34:48+00:00\",\"dateModified\":\"2023-07-28T16:26:35+00:00\",\"description\":\"WTI traded down $3.05 or -4.4% to close at $67.12. 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