Oil prices rose today after trading down early in the session as Covid-19 cases continue to increase globally and OPEC lifts its production cuts. A lot of positive manufacturing data has come in over the last few weeks, with US manufacturing activity in July accelerating to its highest level in 1.5 years. \u201cThe industrial sector is picking back up and that portends well for demand going forward,\u201d said John Kilduff, partner at Again Capital LLC in New York. However, the upswing in manufacturing activity was held back by weak overseas demand with soft export orders across most of the countries surveyed. Marathon announced a deal to spin off its gas station business to 7\/11. This will help Marathon pare down debt and return cash to shareholders while giving 7\/11 a huge retail presence across the US and Canada. WTI traded up $0.74 or 1.8% to close at $41.01. Brent traded up $0.63 or 1.45% to close at $44.15.<\/p>\n\n\n\n
On Mobile? Click here to download the PDF<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe industrial sector is picking back up and that portends well for demand going forward,\u201d said John Kilduff, partner at Again Capital LLC in New York. <\/p>\n","protected":false},"author":2,"featured_media":1388,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\nThe PFL Petroleum Markets Report for August 3rd, 2020<\/title>\n<meta name=\"description\" content=\"WTI traded up $0.74 or 1.8% to close at $41.01. Brent traded up $0.63 or 1.45% to close at $44.15.\" \/>\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-8-3-2020\/\" \/>\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-8-3-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 8-3-2020\",\"datePublished\":\"2020-08-03T22:56:00+00:00\",\"dateModified\":\"2023-06-14T20:31:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/\"},\"wordCount\":162,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/PFL-Petroleum-Report-8320.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/\",\"name\":\"The PFL Petroleum Markets Report for August 3rd, 2020\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-3-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/PFL-Petroleum-Report-8320.jpg\",\"datePublished\":\"2020-08-03T22:56:00+00:00\",\"dateModified\":\"2023-06-14T20:31:02+00:00\",\"description\":\"WTI traded up $0.74 or 1.8% to close at $41.01. 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\u201cThe industrial sector is picking back up and that portends well for demand going forward,\u201d said John Kilduff, partner at Again Capital LLC in New York. <\/p>\n","protected":false},"author":2,"featured_media":1388,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n