{"id":13894,"date":"2024-03-28T20:14:37","date_gmt":"2024-03-29T00:14:37","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=13894"},"modified":"2024-03-28T20:14:43","modified_gmt":"2024-03-29T00:14:43","slug":"petroleum-daily-report-3-28-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-3-28-2024\/","title":{"rendered":"Petroleum Daily Report 3-28-2024"},"content":{"rendered":"\n<p>Oil prices rose today closing out the month higher on the prospect of OPEC+ continuing to keep production cuts in place. Speaking about yesterday&#8217;s jump in crude inventories &#8220;We \u2026 expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit,&#8221; SEB analyst Bjarne Schieldrop said. &#8220;This will likely hand support to the Brent crude oil price going forward.&#8221; Meanwhile, the US economy grew at a 3.4% annualized rate in the fourth quarter, higher than the previously reported 3.2% pace. Inflation data for now seems to be affirming the case the Fed to hold off on rate cuts but Jerome Powell is already hinting at cutting in the next cycle. WTI traded up $1.82 or 2.2% to close at $83.17. Brent settled may at $87.48\/bbl, the highest level since Oct. 27th, gaining $1.39 or 1.6% on the day. The more active contract traded up $1.58 to close at $87.00.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/03\/Petroleum_Daily3282024.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_Daily3282024.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 rose today closing out the month higher on the prospect of OPEC+ continuing to keep production cuts in place. Speaking about yesterday&#8217;s jump in crude inventories &#8220;We \u2026 expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit,&#8221; SEB analyst Bjarne Schieldrop said. &#8220;This [&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-13894","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 28, 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-3-28-2024\/\" \/>\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-3-28-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-3-28-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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