{"id":14058,"date":"2024-04-18T23:05:52","date_gmt":"2024-04-19T03:05:52","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14058"},"modified":"2024-04-18T23:05:53","modified_gmt":"2024-04-19T03:05:53","slug":"petroleum-daily-report-4-18-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-4-18-2024\/","title":{"rendered":"Petroleum Daily Report 4-18-2024"},"content":{"rendered":"\n<p>Oil prices remained near a three-week low as investors assessed mixed U.S. economic data, U.S. sanctions on Venezuela and Iran, and easing tensions in the Middle East. Increased interest in energy trading lifted open interest in Brent futures to its highest level since February 2021. In the U.S., unchanged unemployment claims suggested ongoing labor market strength, but existing home sales fell in March. Analysts anticipate the Federal Reserve may delay interest rate cuts until September. In Europe, the ECB signaled an interest rate cut in June, while in China, officials discussed measures to support the economy amidst weak domestic demand. Despite U.S. sanctions on Venezuela and Iran, the market largely discounted their impact, unwinding the geopolitical risk premium in oil prices. Brent futures fell 18 cents, or 0.2%, to settle at $87.11 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 4 cents, or 0.1%, to settle at $82.73.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/04\/Petroleum_Daily4182024.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\/04\/Petroleum_Daily4182024.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 remained near a three-week low as investors assessed mixed U.S. economic data, U.S. sanctions on Venezuela and Iran, and easing tensions in the Middle East. Increased interest in energy trading lifted open interest in Brent futures to its highest level since February 2021. In the U.S., unchanged unemployment claims suggested ongoing labor market [&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-14058","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 April 18, 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-4-18-2024\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"guida\" \/>\n\t<meta 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