{"id":10603,"date":"2023-06-13T21:04:51","date_gmt":"2023-06-14T01:04:51","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=10603"},"modified":"2023-07-28T12:26:28","modified_gmt":"2023-07-28T16:26:28","slug":"petroleum-daily-report-6-13-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-13-2023\/","title":{"rendered":"Petroleum Daily Report 6-13-2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Oil prices had a strong session today after yesterdays rout as China\u2019s central bank lowered their short term lending rate for the first time in 10 months. This increased hopes of growing fuel demand on the back of the rate cut as the post pandemic recovery in China has been slower then anticipated. &#8220;The market is showing a rebound from yesterday,&#8221; Phil Flynn, an analyst at Price Futures group, said. &#8220;It was overdone with doom and gloom on Monday.&#8221; Brent&#8217;s six-month backwardation, a market structure whereby shorter-dated futures trade above longer-dated ones, fell to its lowest since March at around $1.10, indicating faltering confidence that demand will exceed supply over the year. WTI traded up $2.30 or 3.4% to close at $69.42. Brent traded up $2.45 or 3.4% to close at $74.29.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/06\/Petroleum_Daily6132023.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_Daily6132023.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>Oil prices had a strong session today after yesterdays rout as China\u2019s central bank lowered their short term lending rate for the first time in 10 months. This increased hopes of growing fuel demand on the back of the rate cut as the post pandemic recovery in China has been slower then anticipated. &#8220;The market [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5802,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-10603","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 13th, 2023<\/title>\n<meta name=\"description\" content=\"WTI traded up $2.30 or 3.4% to close at $69.42. Brent traded up $2.45 or 3.4% to close at $74.29.\" \/>\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-6-13-2023\/\" \/>\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-6-13-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 6-13-2023\",\"datePublished\":\"2023-06-14T01:04:51+00:00\",\"dateModified\":\"2023-07-28T16:26:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/\"},\"wordCount\":143,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/fuel-costs-going-up.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/\",\"name\":\"The PFL Petroleum Markets Report for June 13th, 2023\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-13-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/fuel-costs-going-up.jpg\",\"datePublished\":\"2023-06-14T01:04:51+00:00\",\"dateModified\":\"2023-07-28T16:26:28+00:00\",\"description\":\"WTI traded up $2.30 or 3.4% to close at $69.42. 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