{"id":12523,"date":"2023-10-23T19:57:35","date_gmt":"2023-10-23T23:57:35","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=12523"},"modified":"2023-10-24T09:16:00","modified_gmt":"2023-10-24T13:16:00","slug":"petroleum-daily-report-10-23-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-10-23-2023\/","title":{"rendered":"Petroleum Daily Report 10-23-2023"},"content":{"rendered":"\n<p>Oil prices fell today as diplomatic efforts in the Middle East intensify aiming to contain the conflict. Aid convoys have begun to arrive in Gaza and as of yet the Israelis have not begun a ground incursion. &#8220;The imminent risk to supply seems to have gone down,&#8221; said Phil Flynn, analyst at Price Futures Group. &#8220;People are paring back positions until they see how this plays out.&#8221; Elsewhere, U.S. President Joe Biden last week announced the suspension of sanctions on OPEC member Venezuela, after a Venezuelan government deal with the opposition. That could bring exports back to the market, but the extent to which this could mitigate the impact of supply risks in the Middle East is unclear. WTI traded down $2.59 or -2.9% to close at $85.49. Brent traded down $2.33 or -2.5% to close at $89.83.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/10\/Petroleum_Daily10232023.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\/10\/Petroleum_Daily10232023.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 prices fell today as diplomatic efforts in the Middle East intensify aiming to contain the conflict. Aid convoys have begun to arrive in Gaza and as of yet the Israelis have not begun a ground incursion. &#8220;The imminent risk to supply seems to have gone down,&#8221; said Phil Flynn, analyst at Price Futures Group. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1860,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-12523","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 October 23rd, 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-10-23-2023\/\" \/>\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-10-23-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-10-23-2023\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 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