{"id":15278,"date":"2024-09-12T18:40:30","date_gmt":"2024-09-12T22:40:30","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=15278"},"modified":"2024-09-12T18:40:31","modified_gmt":"2024-09-12T22:40:31","slug":"petroleum-daily-report-9-12-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-9-12-2024\/","title":{"rendered":"Petroleum Daily Report 9-12-2024"},"content":{"rendered":"\n<p>Oil prices were higher today trading up as producers assessed the impact on output in the Gulf. Over 730K\/bpd of production (42%) of Gulf of Mexico output was shut in due to the storm. Both contracts had gained more than 2% on Wednesday as companies evacuated offshore platforms due to Francine. The disruptions are estimated to reduce output this month from the Gulf of Mexico by around 50,000 barrels per day, UBS analysts said. Concerns about weak global oil demand, particularly from top importer China, have weighed heavily on prices in recent months. Brent crude futures settled near a three-year low on Tuesday after the OPEC+ producer group slashed its annual demand growth forecasts for the second month in a row. U.S. gasoline prices are trending towards a three-year low because of weak demand and abundant supplies, analysts said. U.S. gasoline consumption represents nearly 9% of global oil demand. WTI traded up $1.66 or 2.5% to close at $68.97. Brent traded up $1.36 or 1.9% to close at $71.97.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/09\/Petroleum_Daily9122024.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\/09\/Petroleum_Daily9122024.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 were higher today trading up as producers assessed the impact on output in the Gulf. Over 730K\/bpd of production (42%) of Gulf of Mexico output was shut in due to the storm. Both contracts had gained more than 2% on Wednesday as companies evacuated offshore platforms due to Francine. The disruptions are estimated [&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-15278","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 September 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-9-12-2024\/\" \/>\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=\"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-9-12-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-9-12-2024\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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