{"id":13604,"date":"2024-02-23T18:57:35","date_gmt":"2024-02-23T23:57:35","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=13604"},"modified":"2024-02-26T12:10:36","modified_gmt":"2024-02-26T17:10:36","slug":"petroleum-daily-report-2-23-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-2-23-2024\/","title":{"rendered":"Petroleum Daily Report 2-23-2024"},"content":{"rendered":"\n<p>Oil prices were lower today closing out the week down despite indications of healthy fuel demand and supply concerns stemming from the Middle East tensions. Federal Reserve policymakers should delay U.S. interest rate cuts by at least another couple of months, Fed Governor Christopher Waller said on Thursday, which could slow economic growth and curb oil demand. The Fed has held its policy rate steady in a 5.25% to 5.5% range since last July. Minutes of its meeting last month show most central bankers were worried about moving too quickly to ease policy. &#8220;The entire energy complex is reacting, because if inflation begins to come back it will slow demand for energy products,&#8221; said Tim Snyder, economist at Matador Economics. &#8220;That is not something the market wants to digest right now, especially as it is trying to figure out a direction,&#8221; he added. WTI traded down $2.12 or -2.7% to close at $76.49. Brent traded down $2.05 or -2.5% to close at $81.62.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/02\/Petroleum_Daily2232024.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\/2024\/02\/Petroleum_Daily2232024.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 were lower today closing out the week down despite indications of healthy fuel demand and supply concerns stemming from the Middle East tensions. Federal Reserve policymakers should delay U.S. interest rate cuts by at least another couple of months, Fed Governor Christopher Waller said on Thursday, which could slow economic growth and curb [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1860,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-13604","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 February 23rd, 2024<\/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-2-23-2024\/\" \/>\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-2-23-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/\"},\"author\":{\"name\":\"Curtis Chandler\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/b52cec883a82d94540b07fb1f9e49319\"},\"headline\":\"Petroleum Daily Report 2-23-2024\",\"datePublished\":\"2024-02-23T23:57:35+00:00\",\"dateModified\":\"2024-02-26T17:10:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/\"},\"wordCount\":175,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Crude-Oil-Refinery.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/\",\"name\":\"The PFL Petroleum Markets Report for February 23rd, 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by David Cohen, this report summarizes the daily crude oil markets.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-2-23-2024\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Petroleum Daily Report 2-23-2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/\",\"name\":\"PFL Petroleum Services 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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. Curtis Chandler's notable achievements and diverse experiences position him as a respected figure in the energy and rail industries.\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/author\\\/curtis\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The PFL Petroleum Markets Report for February 23rd, 2024","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-2-23-2024\/","twitter_misc":{"Written by":"Curtis Chandler","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-2-23-2024\/#article","isPartOf":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-2-23-2024\/"},"author":{"name":"Curtis 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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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