{"id":1477,"date":"2020-08-14T20:00:28","date_gmt":"2020-08-15T00:00:28","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=1477"},"modified":"2023-06-16T15:59:50","modified_gmt":"2023-06-16T19:59:50","slug":"petroleum-daily-report-8-14-2020","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-8-14-2020\/","title":{"rendered":"Petroleum Daily Report 8-14-2020"},"content":{"rendered":"\n<p align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/08\/Petroleum_Daily8142020.pdf\" alt=\"Oil prices edged lower today as pessimism about this year\u2019s oil demand resurfaces. After two major forecasters (OPEC and the IEA) revised down their projections, the market is looking at the weakening outlook just as production is on the upswing. Prices had been bolstered by inventory draws across the categories, and this will be very bullish for prices if this continues. Still, the draws haven\u2019t been extremely significant as inventories remain elevated from their averages, especially gasoline as we come to the end of what is normally peak driving season. Prices also continue to get a boost from a weaker dollar, which accelerated its downward trend a few weeks ago when they Fed basically said they were going to let inflation pick up. Lastly, all eyes continue to remain on the virus. While the trend numbers seem to be improving, the black swan event continues to wreak havoc across financial markets as all of the uncertainties continue to mount. WTI traded down $.23 or -.54% to close at $42.01. Brent traded down $.16 or -.36% to close at $44.80.\">Click here if viewing from mobile<\/a><br><embed src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/08\/Petroleum_Daily8142020.pdf\" type=\"application\/pdf\" width=\"100%\" height=\"950\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged lower today as pessimism about this year\u2019s oil demand resurfaces. After two major forecasters (OPEC and the IEA) revised down their projections, the market is looking at the weakening outlook just as production is on the upswing.<\/p>\n","protected":false},"author":2,"featured_media":1479,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1477","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 August 14th, 2020<\/title>\n<meta name=\"description\" content=\"Oil prices edged lower today as pessimism about this year\u2019s oil demand resurfaces. After two major forecasters (OPEC and the IEA) revised down their projections, the market is looking at the weakening outlook just as production is on the upswing.\" \/>\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-8-14-2020\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" \/>\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-8-14-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 8-14-2020\",\"datePublished\":\"2020-08-15T00:00:28+00:00\",\"dateModified\":\"2023-06-16T19:59:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/\"},\"wordCount\":11,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/pflpetroleumdaily142020.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/\",\"name\":\"The PFL Petroleum Markets Report for August 14th, 2020\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-14-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/pflpetroleumdaily142020.jpg\",\"datePublished\":\"2020-08-15T00:00:28+00:00\",\"dateModified\":\"2023-06-16T19:59:50+00:00\",\"description\":\"Oil prices edged lower today as pessimism about this year\u2019s oil demand resurfaces. 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