{"id":15159,"date":"2024-08-27T18:22:47","date_gmt":"2024-08-27T22:22:47","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=15159"},"modified":"2024-08-27T18:22:48","modified_gmt":"2024-08-27T22:22:48","slug":"petroleum-daily-report-8-27-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-8-27-2024\/","title":{"rendered":"Petroleum Daily Report 8-27-2024"},"content":{"rendered":"\n<p>On Tuesday, oil prices fell around 2% due to concerns over slower economic growth in the U.S. and China, which could reduce energy demand, following a 7% surge over the prior three days. Brent crude dropped $1.88, or 2.3%, to $79.55 a barrel, while U.S. West Texas Intermediate (WTI) crude declined $1.89, or 2.4%, to $75.53. Analysts at Ritterbusch and Associates noted, &#8220;Today\u2019s price pullback, although significant, still fell within range of a normal and deserved correction following a substantial three-day $6-per-barrel advance.&#8221; Technical resistance and low U.S. gasoline futures also pressured prices. Despite bullish news from Libya and the Middle East, economic worries in the U.S. and China dominated the market, with Goldman Sachs cutting its 2025 Brent forecast due to slower demand in China. U.S. consumer confidence rose, but increasing unemployment stoked expectations of a Federal Reserve rate cut next month, which could boost economic growth and oil demand.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/08\/Petroleum_Daily8272024.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\/08\/Petroleum_Daily8272024.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>On Tuesday, oil prices fell around 2% due to concerns over slower economic growth in the U.S. and China, which could reduce energy demand, following a 7% surge over the prior three days. Brent crude dropped $1.88, or 2.3%, to $79.55 a barrel, while U.S. West Texas Intermediate (WTI) crude declined $1.89, or 2.4%, to [&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-15159","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 27, 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-8-27-2024\/\" \/>\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-8-27-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-8-27-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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