{"id":12206,"date":"2023-09-12T22:36:39","date_gmt":"2023-09-13T02:36:39","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=12206"},"modified":"2023-09-14T13:15:12","modified_gmt":"2023-09-14T17:15:12","slug":"petroleum-daily-report-9-12-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-9-12-2023\/","title":{"rendered":"Petroleum Daily Report 9-12-2023"},"content":{"rendered":"\n<p>Oil jumped 2% today to a 10 month high on the back of OPEC predicting tight supplies.&nbsp; U.S. West Texas Intermediate crude rose $1.55 per barrel, to settle at $88.84 per barrel. Brent futures rose US$1.42 per barrel, to settle at US$92.06 per barrel.&nbsp; From a technical standpoint both benchmarks remain technically overbought, and closed at their highest levels since November 2022.&nbsp; You have to be brave to go long but shorting this market could be punitive nothing about oil is fundamentally driven anymore as we in the U.S. are a net buyer and have no control. OPEC stuck to its forecasts for robust growth in global oil demand in 2023 and 2024, citing signs that major economies are stronger than expected. OPEC\u2019s monthly report forecast world oil demand will rise by 2.25 million barrels per day in 2024.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/09\/Petroleum_Daily9122023.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\/09\/Petroleum_Daily9122023.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\/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 Resor<\/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 jumped 2% today to a 10 month high on the back of OPEC predicting tight supplies.&nbsp; U.S. West Texas Intermediate crude rose $1.55 per barrel, to settle at $88.84 per barrel. Brent futures rose US$1.42 per barrel, to settle at US$92.06 per barrel.&nbsp; From a technical standpoint both benchmarks remain technically overbought, and closed [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-12206","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 v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Petroleum Markets Report for September 12th, 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-9-12-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Curtis Chandler\" \/>\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-9-12-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-9-12-2023\\\/\"},\"author\":{\"name\":\"Curtis Chandler\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/b52cec883a82d94540b07fb1f9e49319\"},\"headline\":\"Petroleum Daily Report 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He served as the Principal &amp; Director of Blackstone Energy Services Inc. &amp; played a crucial role as the Managing Director of Collingwood Ethanol L.P. He also worked as a Partner at Intercontinental Energy Brokers Inc., specializing in derivatives. Curtis's also served as the Director of Marketing &amp; Supply at Novagas Clearinghouse Ltd., a subsidiary of Dynegy Canada Inc. Additionally, he held the position of VP at Great West Energy Ltd., a subsidiary of Bow Valley Energy Inc., where he played an instrumental role in establishing the company. Curtis also co-founded of Great West Energy with his father in 1988. During the rapid growth of Great West Energy, Curtis oversaw information systems, managed supply purchasing &amp; sales, &amp; played a pivotal role in new market development. Curtis also worked as a market maker at Novagas, responsible for pricing decisions across all regions of Canada. In 1994, he co-founded Chandler Energy Inc. (CEI) &amp; Chandler Energy Resources Inc. These companies quickly became prominent players in the Canadian natural gas market, moving substantial volumes of gas to customers in North America. Chandler Energy Resources collaborated with Dominion Energy &amp; Sabine to develop an underground natural gas storage facility near Edmonton, Alberta. Following these successes, Curtis established Intercontinental Energy Brokers in 1997, which emerged as a leading gas &amp; power broker in Europe before being sold to ICAP in 2003. 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