{"id":11911,"date":"2023-08-07T13:02:51","date_gmt":"2023-08-07T17:02:51","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=11911"},"modified":"2023-08-07T20:26:33","modified_gmt":"2023-08-08T00:26:33","slug":"petroleum-daily-report-8-7-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-8-7-2023\/","title":{"rendered":"Petroleum Daily Report 8-7-2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Oil prices settled traded down today on a rising dollar and fears of weaker than expected demand out of China.&nbsp; &#8220;The summer driving season is winding down in the United States,&#8221; said Robert Yawger, director of energy futures for Mizuho Securities USA. &#8220;If you don&#8217;t need as much gasoline, you don&#8217;t need as much oil.&#8221; Saudi Aramco raised its official selling price to Asia for the third straight month. The market will be closely watching Thursdays CPI report as an indication of Fed monetary policy. Fed Governor Bowman said additional interest rate hikes will be likely needed to lower inflation to the Fed\u2019s 2% target.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">WTI traded down $.88 or -1.06% to close at $81.94. Brent traded down $.90 or -1.04% to close at $85.34.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/08\/Petroleum_Daily872023.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\/08\/Petroleum_Daily872023.pdf\" type=\"application\/pdf\" width=\"100%\" height=\"960\" title=\"Crude Oil Report\" alt=\"\">\n\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\/06\/SWARS-Arlington-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: Loews Arlington Hotel<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519), David Cohen (954-729-4774), and Curtis Chandler (239-405-3365) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.swrailshippers.com\/event\/2026-semi-annual-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/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\/06\/AAR-Dallas-2026.jpg\" alt=\"AARs\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: The Westin Galleria Dallas<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), and Curtis Chandler (239-405-3365) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.aar.org\/issue\/aar-tank-car-committee\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/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\/06\/SEARS-Norfolk-2026.jpg\" alt=\"sears\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: The Westin Galleria Dallas<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.serailshippers.com\/event\/sears-fall-2026-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 settled traded down today on a rising dollar and fears of weaker than expected demand out of China.&nbsp; &#8220;The summer driving season is winding down in the United States,&#8221; said Robert Yawger, director of energy futures for Mizuho Securities USA. &#8220;If you don&#8217;t need as much gasoline, you don&#8217;t need as much oil.&#8221; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1751,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-11911","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 v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Petroleum Markets Report for August 7th, 2023<\/title>\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-8-7-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" \/>\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-8-7-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-7-2023\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 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