{"id":11991,"date":"2023-08-18T20:54:57","date_gmt":"2023-08-19T00:54:57","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=11991"},"modified":"2023-08-22T11:18:21","modified_gmt":"2023-08-22T15:18:21","slug":"petroleum-daily-report-8-18-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-8-18-2023\/","title":{"rendered":"Petroleum Daily Report 8-18-2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Oil prices rose today but still closed down week over week, ending a streak the longest streak of week over week gains so far in 23. &#8220;Concerns for investors remain focused on the tension between slowing global growth and still-tight global supplies,&#8221; said Rob Haworth, senior portfolio manager at U.S. Bank Asset Management. &#8220;Prices are likely to remain range-bound for now,&#8221; Haworth said, adding that demand is in question for investors worried by the weak data from China. Both benchmarks pushed higher on Friday after industry data showed that the U.S. oil and natural gas rig count, an early indicator of future output, fell for the sixth week in a row. A slump in U.S. production could exacerbate anticipated supply tightness through the rest of this year. WTI traded up $.86 or 1.1% to close at $81.25. Brent traded up $.68 or .8% to close at $84.80.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/08\/Petroleum_Daily8182023.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_Daily8182023.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 rose today but still closed down week over week, ending a streak the longest streak of week over week gains so far in 23. &#8220;Concerns for investors remain focused on the tension between slowing global growth and still-tight global supplies,&#8221; said Rob Haworth, senior portfolio manager at U.S. Bank Asset Management. &#8220;Prices are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-11991","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 18th, 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-8-18-2023\/\" \/>\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-8-18-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-18-2023\\\/\"},\"author\":{\"name\":\"David 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