{"id":12021,"date":"2023-08-22T18:32:37","date_gmt":"2023-08-22T22:32:37","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=12021"},"modified":"2023-08-22T18:32:37","modified_gmt":"2023-08-22T22:32:37","slug":"petroleum-daily-report-8-22-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-8-22-2023\/","title":{"rendered":"Petroleum Daily Report 8-22-2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Oil prices were lower today on continued nagging worries about Chinese demand. &#8220;Saudi and Russian output cuts have been largely negated by weakening crude demand from China that appeared to develop last month and is apt to continue through the rest of the summer,&#8221; said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois. Amplifying demand concerns, U.S. central bank officials have not ruled out further interest rate hikes to contain inflation. The Iraqi and Turkish oil ministers have discussed the importance of resuming oil flows after finalizing pipeline maintenance. Turkey had halted Iraq\u2019s 450K\/bpd of exports which is roughly 0.5% of global supply. WTI traded down $0.48 to close at $79.64. Brent traded down $0.43 or -0.5% to close at $84.03.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/08\/Petroleum_Daily8222023.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_Daily8222023.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 were lower today on continued nagging worries about Chinese demand. &#8220;Saudi and Russian output cuts have been largely negated by weakening crude demand from China that appeared to develop last month and is apt to continue through the rest of the summer,&#8221; said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1313,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-12021","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 22nd, 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-8-22-2023\/\" \/>\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-8-22-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-22-2023\\\/\"},\"author\":{\"name\":\"David 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