{"id":13999,"date":"2024-04-11T19:54:03","date_gmt":"2024-04-11T23:54:03","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=13999"},"modified":"2024-04-11T19:54:04","modified_gmt":"2024-04-11T23:54:04","slug":"petroleum-daily-report-4-11-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-4-11-2024\/","title":{"rendered":"Petroleum Daily Report 4-11-2024"},"content":{"rendered":"\n

Oil prices were lower today as inflation remained persistently higher causing worries about Fed rate cuts. Minutes from the U.S. Federal Reserve showed officials worried that progress on inflation might have stalled and a longer period of tight monetary policy would be needed. Investors who had expected a rate cut in June now see September as a likelier timing, following a third straight consumer inflation reading that exceeded forecasts. Energy strategist at Macquarie Vikas Dwivedi said It will be difficult to maintain Brent above $90 a barrel in the second half of the year without actual supply disruption associated with geopolitical events. Meanwhile, traders worried that Iran might retaliate for a suspected Israeli air strike on its embassy in Syria on April 1. U.S. Secretary of State Antony Blinken has vowed that the U.S. will stand with Israel against any threats by Iran. WTI traded down $1.19 or -1.4% to close at $85.02. Brent traded down $.74 or -.8% to close at $89.74.<\/p>\n\n\n\n

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