{"id":14459,"date":"2024-06-05T20:24:45","date_gmt":"2024-06-06T00:24:45","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14459"},"modified":"2024-06-05T20:24:46","modified_gmt":"2024-06-06T00:24:46","slug":"petroleum-daily-report-6-5-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-5-2024\/","title":{"rendered":"Petroleum Daily Report 6-5-2024"},"content":{"rendered":"\n<p>Oil prices climbed today rebounding from four-month lows as hopes of an interest rate cut in September outweighed demand concerns from todays EIA report. &#8220;Data outside of the oil world was sufficiently weak that it&#8217;s going to give cover to the Fed to finally cut rates and spur some growth,&#8221; said John Kilduff, partner at Again Capital. Crude stocks jumped 1.2MM\/bbls compared with analyst expectation of a draw of 2.3MM\/bbls. Gasoline inventories rose by 2.1 million barrels versus expectations for an increase of 2 million barrels, adding to demand concerns as the week reflected fuel usage around the Memorial Day holiday. Distillate stocks rose by 3.2 million barrels compared with estimates of an increase of 2.5 million, EIA data showed. WTI traded up $.82 or -1.1% to close at $74.07. Brent traded up $.89 or -1.2% to close at $78.41.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/06\/Petroleum_Daily652024.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\/06\/Petroleum_Daily652024.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 climbed today rebounding from four-month lows as hopes of an interest rate cut in September outweighed demand concerns from todays EIA report. &#8220;Data outside of the oil world was sufficiently weak that it&#8217;s going to give cover to the Fed to finally cut rates and spur some growth,&#8221; said John Kilduff, partner at [&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-14459","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 June 5, 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-6-5-2024\/\" \/>\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-6-5-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-5-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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