{"id":14165,"date":"2024-05-01T21:20:57","date_gmt":"2024-05-02T01:20:57","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14165"},"modified":"2024-05-01T21:20:58","modified_gmt":"2024-05-02T01:20:58","slug":"petroleum-daily-report-5-1-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-5-1-2024\/","title":{"rendered":"Petroleum Daily Report 5-1-2024"},"content":{"rendered":"\n

U.S. oil prices fell more than they have in months on today, dropping below $80 per barrel for the first time since March in response to signs of weak demand and an easing of Middle East tensions.\u00a0 The strong dollar isn\u2019t helping either. Oil, which is priced in dollars, tends to fall when the greenback rises. Federal Reserve policies have helped lift the dollar relative to other currencies because the Fed has kept interest rates high even as other central banks have begun to lower them.\u00a0 Fed Chairman Jerome Powell\u2019s comments at a press conference on Wednesday reinforced that dynamic, pointing to further strength ahead for the dollar. He said that while the U.S. and other developed countries are both dealing with inflation, the strength of the U.S. economy gives the Fed the flexibility to keep rates high until prices come under control.<\/p>\n\n\n\n

On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n\n\n\n\n
\r\n\t\"Stampede\"\r\n<\/figure>\r\n\r\n\t