{"id":17743,"date":"2025-07-08T16:25:27","date_gmt":"2025-07-08T20:25:27","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=17743"},"modified":"2025-07-08T16:25:29","modified_gmt":"2025-07-08T20:25:29","slug":"petroleum-daily-report-7-8-2025","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-7-8-2025\/","title":{"rendered":"Petroleum Daily Report 7-8-2025"},"content":{"rendered":"\n<p>Oil prices rose to two-week highs on Tuesday, driven by a reduced U.S. production outlook, fresh Houthi attacks in the Red Sea, and a surprise move by President Donald Trump to impose steep copper tariffs. Brent crude settled up 57 cents, or 0.8%, at $70.15 a barrel, while U.S. West Texas Intermediate (WTI) gained 40 cents, or 0.6%, to close at $68.33. Both benchmarks marked their highest closes since June 23 for a second consecutive session.<\/p>\n\n\n\n<p>The U.S. Energy Information Administration (EIA) revised its forecast downward for 2025 crude output, citing slowing activity as a result of declining oil prices. Meanwhile, Trump\u2019s announcement of a 50% tariff on copper\u2014aimed at boosting domestic production\u2014surprised markets and helped rally both oil and copper prices, the latter hitting a record high.<\/p>\n\n\n\n<p>In the Red Sea, a deadly drone and speedboat attack on the bulk carrier Eternity C\u2014the second maritime incident of the day\u2014highlighted the renewed threat to shipping. These attacks are pushing vessels carrying oil and gas to take longer, costlier routes, raising global energy transport costs.<\/p>\n\n\n\n<p>Oil markets also found support from technical short covering, with Brent breaching the $70 level, a key resistance point. Strength in refining margins added to the bullish tone, with U.S. gasoline and diesel prices climbing and crack spreads reaching multi-month highs.<\/p>\n\n\n\n<p>Despite ongoing bearish pressures\u2014such as Trump&#8217;s broader tariff threats and the upcoming OPEC+ output hike of 548,000 barrels per day in August\u2014analysts noted oil&#8217;s resilience. The American Petroleum Institute and EIA inventory reports are expected to show a 2.1 million barrel drawdown in U.S. crude stockpiles, which, if confirmed, would mark the sixth draw in seven weeks, reinforcing demand strength.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2025\/07\/Petroleum_Daily782025.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\/07\/Petroleum_Daily782025.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 to two-week highs on Tuesday, driven by a reduced U.S. production outlook, fresh Houthi attacks in the Red Sea, and a surprise move by President Donald Trump to impose steep copper tariffs. Brent crude settled up 57 cents, or 0.8%, at $70.15 a barrel, while U.S. West Texas Intermediate (WTI) gained 40 [&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-17743","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 8, 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-7-8-2025\/\" \/>\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-7-8-2025\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-7-8-2025\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"Petroleum Daily Report 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