{"id":14528,"date":"2024-06-12T19:25:57","date_gmt":"2024-06-12T23:25:57","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14528"},"modified":"2024-06-12T19:25:58","modified_gmt":"2024-06-12T23:25:58","slug":"petroleum-daily-report-6-12-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/","title":{"rendered":"Petroleum Daily Report 6-12-2024"},"content":{"rendered":"\n<p>Oil pries were higher today as ongoing tensions in the Middle East lent support to prices. Meanwhile, investors were left disappointed after the Federal Reserve pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year. &#8220;The market is holding its breath right now,&#8221; said Tim Snyder, economist at Matador Economics. &#8220;If Powell talks outside of what the Fed publishes, there could be a little discord within the policy committee as to their direction on interest rates,&#8221; Snyder added. Elsewhere, European Central Bank Vice President Luis de Guindos said the ECB must move &#8220;very slowly&#8221; in reducing interest rates, because of huge uncertainty over the inflation outlook. U.S. crude stocks posted a surprise build last week, up by 3.7 MM\/bbls, compared with expectations of a 1 MM\/bbl draw. Gasoline stocks also rose more than expected, up by 2.6 MM\/bbls, compared with analysts&#8217; expectations for a 900K\/bbl build. WTI traded up $.60 or .77% to close at $78.50. Brent traded up $.68 or .83% to close at $82.60.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/06\/Petroleum_Daily6122024.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_Daily6122024.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 pries were higher today as ongoing tensions in the Middle East lent support to prices. Meanwhile, investors were left disappointed after the Federal Reserve pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year. &#8220;The market is holding its breath [&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-14528","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 12, 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-6-12-2024\/\" \/>\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=\"2 minutes\" \/>\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-6-12-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-12-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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For questions concerning the data supplied on PFLPetroleum.com please email john@pflpetroleum.com.\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/author\\\/guida\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The PFL Petroleum Markets Report for June 12, 2024","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/","twitter_misc":{"Written by":"guida","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#article","isPartOf":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/"},"author":{"name":"guida","@id":"https:\/\/pflpetroleum.com\/reports\/#\/schema\/person\/f3f5ee51a3b008e32db5c8092a5fd51d"},"headline":"Petroleum Daily Report 6-12-2024","datePublished":"2024-06-12T23:25:57+00:00","dateModified":"2024-06-12T23:25:58+00:00","mainEntityOfPage":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/"},"wordCount":193,"publisher":{"@id":"https:\/\/pflpetroleum.com\/reports\/#organization"},"image":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg","articleSection":["Petroleum Daily"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/","url":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/","name":"The PFL Petroleum Markets Report for June 12, 2024","isPartOf":{"@id":"https:\/\/pflpetroleum.com\/reports\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#primaryimage"},"image":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg","datePublished":"2024-06-12T23:25:57+00:00","dateModified":"2024-06-12T23:25:58+00:00","breadcrumb":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#primaryimage","url":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg","contentUrl":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg","width":2500,"height":1667,"caption":"Writen by David Cohen, this report summarizes the daily crude oil markets."},{"@type":"BreadcrumbList","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-12-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pflpetroleum.com\/reports\/"},{"@type":"ListItem","position":2,"name":"Petroleum Daily Report 6-12-2024"}]},{"@type":"WebSite","@id":"https:\/\/pflpetroleum.com\/reports\/#website","url":"https:\/\/pflpetroleum.com\/reports\/","name":"PFL Petroleum Services LTD","description":"","publisher":{"@id":"https:\/\/pflpetroleum.com\/reports\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pflpetroleum.com\/reports\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/pflpetroleum.com\/reports\/#organization","name":"PFL Petroleum Services LTD","url":"https:\/\/pflpetroleum.com\/reports\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pflpetroleum.com\/reports\/#\/schema\/logo\/image\/","url":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/02\/instagramlogo.png","contentUrl":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/02\/instagramlogo.png","width":180,"height":180,"caption":"PFL Petroleum Services LTD"},"image":{"@id":"https:\/\/pflpetroleum.com\/reports\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/progressivefuelslimited\/","https:\/\/x.com\/pflpetroleum","https:\/\/www.instagram.com\/pflpetroleum\/","https:\/\/www.linkedin.com\/company\/20513933","https:\/\/www.youtube.com\/channel\/UCO9L3c7NjG9qoB1BmKf_Hsg"]},{"@type":"Person","@id":"https:\/\/pflpetroleum.com\/reports\/#\/schema\/person\/f3f5ee51a3b008e32db5c8092a5fd51d","name":"guida","description":"John Guida is the Chief Data Analyst and Communications officer for PFL Petroleum Services LTD. 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