{"id":13832,"date":"2024-03-20T19:45:17","date_gmt":"2024-03-20T23:45:17","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=13832"},"modified":"2024-03-21T09:20:39","modified_gmt":"2024-03-21T13:20:39","slug":"petroleum-daily-report-3-20-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-3-20-2024\/","title":{"rendered":"Petroleum Daily Report 3-20-2024"},"content":{"rendered":"\n<p>Oil prices were lower today as the market weighed todays Fed decision. The Federal Reserve decided to hold interest rates unchanged, as expected. Policy makers indicated they still expect to reduce them by 750 bps for the end of 2024 but Powell was Dovish in his press conference sending equities higher. Crude inventories fell more than expected as did gasoline stocks while distillate stocks rose. The draw in crude oil inventories was due to higher refinery runs and strong crude oil exports, said Matt Smith, lead oil analyst at Kpler. WTI traded down $1.79 or -2.14% to close at $81.68. Brent traded down $1.43 or -1.64% to close at $85.95.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/03\/Petroleum_Daily3202024.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\/03\/Petroleum_Daily3202024.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 as the market weighed todays Fed decision. The Federal Reserve decided to hold interest rates unchanged, as expected. Policy makers indicated they still expect to reduce them by 750 bps for the end of 2024 but Powell was Dovish in his press conference sending equities higher. Crude inventories fell more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1860,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-13832","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 March 20, 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-3-20-2024\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"guida\" \/>\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-3-20-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-3-20-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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