{"id":14805,"date":"2024-07-18T18:35:02","date_gmt":"2024-07-18T22:35:02","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14805"},"modified":"2024-07-18T18:35:03","modified_gmt":"2024-07-18T22:35:03","slug":"petroleum-daily-report-7-18-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/","title":{"rendered":"Petroleum Daily Report 7-18-2024"},"content":{"rendered":"\n<p>Oil prices steadied on Thursday amid mixed signals regarding crude demand. Brent futures rose by 3 cents to settle at $85.11 per barrel, while U.S. West Texas Intermediate (WTI) crude fell by 3 cents to $82.82 per barrel. Investors were torn between concerns about a U.S. economic slowdown and rising expectations that the Federal Reserve might soon cut interest rates.&nbsp;U.S. unemployment claims increased more than expected last week, bolstering the case for potential rate cuts by the Fed, which could spur more oil spending. Fed officials indicated the possibility of rate cuts due to improved inflation and a balanced labor market, possibly as early as September. Despite a drop in U.S. crude inventories by 4.9 million barrels, weak gasoline demand and economic slowdown concerns limited price increases.<\/p>\n\n\n\n<p>In China, slow economic growth and vague policy signals from Beijing also weighed on prices. The European Central Bank kept interest rates unchanged and offered no guidance on future moves, noting high domestic price pressures. An upcoming mini OPEC+ meeting is expected to maintain the current oil output policy without changes, despite plans to start unwinding output cuts from October.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/07\/Petroleum_Daily7182024.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\/07\/Petroleum_Daily7182024.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 steadied on Thursday amid mixed signals regarding crude demand. Brent futures rose by 3 cents to settle at $85.11 per barrel, while U.S. West Texas Intermediate (WTI) crude fell by 3 cents to $82.82 per barrel. Investors were torn between concerns about a U.S. economic slowdown and rising expectations that the Federal Reserve [&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-14805","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 July 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-7-18-2024\/\" \/>\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-7-18-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 7-18-2024\",\"datePublished\":\"2024-07-18T22:35:02+00:00\",\"dateModified\":\"2024-07-18T22:35:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/\"},\"wordCount\":205,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/#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-7-18-2024\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/\",\"name\":\"The PFL Petroleum Markets Report for July 18, 2024\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Crude-Oil-Refinery.jpg\",\"datePublished\":\"2024-07-18T22:35:02+00:00\",\"dateModified\":\"2024-07-18T22:35:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-18-2024\\\/#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-7-18-2024\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Petroleum Daily Report 7-18-2024\"}]},{\"@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. 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 July 18, 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-7-18-2024\/","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-7-18-2024\/#article","isPartOf":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/"},"author":{"name":"guida","@id":"https:\/\/pflpetroleum.com\/reports\/#\/schema\/person\/f3f5ee51a3b008e32db5c8092a5fd51d"},"headline":"Petroleum Daily Report 7-18-2024","datePublished":"2024-07-18T22:35:02+00:00","dateModified":"2024-07-18T22:35:03+00:00","mainEntityOfPage":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/"},"wordCount":205,"publisher":{"@id":"https:\/\/pflpetroleum.com\/reports\/#organization"},"image":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/#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-7-18-2024\/","url":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/","name":"The PFL Petroleum Markets Report for July 18, 2024","isPartOf":{"@id":"https:\/\/pflpetroleum.com\/reports\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/#primaryimage"},"image":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg","datePublished":"2024-07-18T22:35:02+00:00","dateModified":"2024-07-18T22:35:03+00:00","breadcrumb":{"@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-18-2024\/#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-7-18-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pflpetroleum.com\/reports\/"},{"@type":"ListItem","position":2,"name":"Petroleum Daily Report 7-18-2024"}]},{"@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. For questions concerning the data supplied on PFLPetroleum.com please email john@pflpetroleum.com.","url":"https:\/\/pflpetroleum.com\/reports\/author\/guida\/"}]}},"blog_post_layout_featured_media_urls":{"thumbnail":["https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery-150x150.jpg",150,150,true],"full":["https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/09\/Crude-Oil-Refinery.jpg",2500,1667,false]},"categories_names":{"26":{"name":"Petroleum Daily","link":"https:\/\/pflpetroleum.com\/reports\/category\/petroleum-daily\/"}},"tags_names":[],"comments_number":"0","_links":{"self":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/comments?post=14805"}],"version-history":[{"count":2,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14805\/revisions"}],"predecessor-version":[{"id":14822,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14805\/revisions\/14822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/media\/1860"}],"wp:attachment":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/media?parent=14805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/categories?post=14805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/tags?post=14805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}