{"id":15756,"date":"2024-11-05T16:29:58","date_gmt":"2024-11-05T21:29:58","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=15756"},"modified":"2024-11-05T16:29:59","modified_gmt":"2024-11-05T21:29:59","slug":"petroleum-daily-report-11-5-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-11-5-2024\/","title":{"rendered":"Petroleum Daily Report 11-5-2024"},"content":{"rendered":"\n<p>Oil prices rose around 1% on Tuesday, driven by the potential disruption in U.S. Gulf of Mexico oil production due to Tropical Storm Rafael and a weakening dollar amid the close U.S. presidential race. Brent crude futures increased by 45 cents, or 0.6%, settling at $75.53 a barrel, while WTI crude futures rose 52 cents, or 0.7%, to $71.99. <\/p>\n\n\n\n<p>The weaker dollar, hitting a three-week low, also supported oil prices by making it cheaper for foreign buyers. As U.S. energy companies evacuated Gulf of Mexico platforms, analysts expect Rafael\u2019s impact could reduce production by roughly 4 million barrels. Additionally, OPEC+ recently delayed a planned production increase to stabilize prices amid soft demand and growing non-OPEC supply, while top oil exporter Saudi Arabia lowered its flagship Arab light crude price for Asia in December. This week brings several influential events, including the U.S. Federal Reserve\u2019s meeting and China\u2019s National People\u2019s Congress session, which traders hope will clarify fiscal stimulus measures for China\u2019s oil demand outlook. Meanwhile, U.S. crude storage data is awaited, with analysts predicting a modest addition of 1.1 million barrels.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/11\/Petroleum_Daily1152024.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\/11\/Petroleum_Daily1152024.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\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose around 1% on Tuesday, driven by the potential disruption in U.S. Gulf of Mexico oil production due to Tropical Storm Rafael and a weakening dollar amid the close U.S. presidential race. Brent crude futures increased by 45 cents, or 0.6%, settling at $75.53 a barrel, while WTI crude futures rose 52 cents, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-15756","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 November 5, 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-11-5-2024\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" 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