{"id":17630,"date":"2025-06-24T16:31:08","date_gmt":"2025-06-24T20:31:08","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=17630"},"modified":"2025-06-24T16:31:09","modified_gmt":"2025-06-24T20:31:09","slug":"petroleum-daily-report-6-24-2025","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-24-2025\/","title":{"rendered":"Petroleum Daily Report 6-24-2025"},"content":{"rendered":"\n<p>Oil prices fell sharply on Tuesday, with Brent crude settling down $4.34, or 6.1%, at $67.14 a barrel and U.S. West Texas Intermediate (WTI) falling $4.14, or 6.0%, to $64.37. Both benchmarks hit their lowest closing levels in two weeks, as markets reacted to the announcement of a ceasefire between Israel and Iran, easing concerns of supply disruptions from the region.<\/p>\n\n\n\n<p>The ceasefire, though fragile, prompted a retreat of the geopolitical risk premium built up since Israel&#8217;s June 13 strike on Iran. Tamas Varga of PVM Oil Associates noted that the entire premium had \u201cvanished.\u201d The drop follows Monday\u2019s more than 7% plunge in both contracts after Iran\u2019s limited retaliation on a U.S. base in Qatar was viewed as de-escalatory.<\/p>\n\n\n\n<p>Further pressure on prices came as U.S. President Donald Trump accused both sides of violating the ceasefire and signaled that China may continue buying Iranian oil. Additionally, new output gains from Kazakhstan and Guyana added to global supply worries. Kazakhstan raised its 2025 forecast at the Tengiz oilfield, while Guyana\u2019s May production rose to 667,000 barrels per day, up from April\u2019s 611,000.<\/p>\n\n\n\n<p>On the economic front, deteriorating U.S. consumer confidence and comments from Fed officials warning of slower growth and higher inflation from tariffs also weighed on oil. Lower economic sentiment raises concerns about future demand. The market also awaited U.S. oil inventory data, with analysts expecting a 0.8 million barrel draw\u2014the fifth straight weekly decline if confirmed.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/06\/Petroleum_Daily6242025.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\/2025\/06\/Petroleum_Daily6242025.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 fell sharply on Tuesday, with Brent crude settling down $4.34, or 6.1%, at $67.14 a barrel and U.S. West Texas Intermediate (WTI) falling $4.14, or 6.0%, to $64.37. Both benchmarks hit their lowest closing levels in two weeks, as markets reacted to the announcement of a ceasefire between Israel and Iran, easing concerns [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16800,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-17630","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 June 24, 2025<\/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-6-24-2025\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" 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