{"id":20259,"date":"2026-04-19T16:20:39","date_gmt":"2026-04-19T20:20:39","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=20259"},"modified":"2026-04-20T06:56:27","modified_gmt":"2026-04-20T10:56:27","slug":"pfl-railcar-report-4-20-2026","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-4-20-2026\/","title":{"rendered":"PFL Railcar Report 4-20-2026"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong><strong><strong><em><strong><em><strong><em><strong><em><strong><em><strong><strong>\u201c<em>Pessimism never won any battle<\/em>.\u201d &#8211;&nbsp; Dwight D. Eisenhower<\/strong><\/strong><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/strong><\/strong><\/p>\n\n\n\n<center><iframe width=\"100%\" style=\"width: 100%; aspect-ratio: 16 \/ 9;\" src=\"https:\/\/www.youtube.com\/embed\/CG05jdl3juk\" title=\"The PFL Petroleum Services Weekly Briefing\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen>The PFL Petroleum Services Weekly Briefing<\/iframe><\/iframe><\/center>\n\n\n\n\n\n\n<p class=\"has-text-align-center\"><strong><span style=\"text-decoration: underline;\">Jobs Update<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"text-decoration: underline;\"><strong>Initial jobless claims seasonally adjusted for the week ending April 11, 2026 came in at 207,000<\/strong>,<\/span> versus the adjusted number of 218,000 people from the week prior, down 11,000 people week over week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"550\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-55-1024x550.png\" alt=\"\" class=\"wp-image-20281\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-55-1024x550.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-55-300x161.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-55-768x413.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-55.png 1117w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong><span style=\"text-decoration: underline;\">Continuing jobless claims came in at 1,818,000<\/span><\/strong>, versus the adjusted number of 1,787,000 people from the week prior, up 31,000 week-over-week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"550\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-56-1024x550.png\" alt=\"\" class=\"wp-image-20282\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-56-1024x550.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-56-300x161.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-56-768x413.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-56.png 1117w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Stocks closed higher on Friday of last week and higher week-over-week<\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The DOW closed higher on Friday of last week, up 869.20 points (1.79%), closing out the week at 49,447.92<\/span>, <\/strong>up 1,531.35 points week-over-week. <strong><span style=\"text-decoration: underline;\">The S&amp;P 500 closed higher on Friday of last week, up 84.76 points (1.20%), and closed out the week at 7,126.04<\/span>, <\/strong>up 309.15 points week-over-week. <strong><span style=\"text-decoration: underline;\">The NASDAQ closed higher on Friday of last week, up 365.78 points (1.52%), and closed out the week at 24,468.48<\/span>, <\/strong>up 1,565.59 points week-over-week.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">In overnight trading, DOW futures traded lower and are expected to open at 49,377 this morning, down 264 points from Friday\u2019s close.<\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Crude oil closed lower on Friday of last week and lower week-over-week<\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">West Texas Intermediate (WTI) crude closed down -10.84 per barrel (-11.5%), to close at $83.85<\/span> <\/strong>on Friday of last week, and down $12.72 week-over-week. <strong><span style=\"text-decoration: underline;\">Brent crude closed down -9.01 per barrel<\/span><\/strong> (-9.1%), to close at $90.38, and down $4.82 week-over-week.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.oneexchangecorp.com\/\"><strong>One Exchange WCS<\/strong><\/a><strong><span style=\"text-decoration: underline;\"> (Western Canadian Select) for May delivery settled on Friday of last week at US$17.00 below the WTI-CMA (West Texas Intermediate \u2013 Calendar Month Average)<\/span>.<\/strong> The implied value was US$72.77 per barrel.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. commercial crude oil inventories<\/span><\/strong> (excluding those in the Strategic Petroleum Reserve) <span style=\"text-decoration: underline;\"><strong>decreased by 900,000 barrels week-over-week<\/strong>.<\/span> At 463.8 million barrels, <strong><span style=\"text-decoration: underline;\">U.S. crude oil inventories are 1% above the five-year average for this time of year.<\/span><\/strong><br><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-45.png\" alt=\"\" class=\"wp-image-20262\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-45.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-45-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-45-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-left\"><strong><span style=\"text-decoration: underline;\">Total motor gasoline inventories decreased by 6.3 million barrels week-over-week<\/span><\/strong> and are 1% above the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-46.png\" alt=\"\" class=\"wp-image-20263\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-46.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-46-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-46-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Distillate fuel inventories decreased by 3.1 million barrels week-over-week<\/span><\/strong> and are 6% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-47.png\" alt=\"\" class=\"wp-image-20264\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-47.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-47-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-47-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Propane\/propylene inventories increased by 300,000 barrels week-over-week<\/span><\/strong> and are 68% above the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-48.png\" alt=\"\" class=\"wp-image-20265\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-48.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-48-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-48-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Propane prices closed at 71 cents per gallon on Friday of last week, down 5.2 cents per gallon week-over-week<\/span><\/strong>, and down 3.8 cents year-over-year.<br><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-49.png\" alt=\"\" class=\"wp-image-20266\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-49.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-49-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-49-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">Overall, total commercial petroleum inventories decreased by 9.0 million barrels week-over-week<\/span><\/strong>, during the week ending April 10, 2026.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. crude oil imports averaged 5.3 million barrels per day<\/span><\/strong> during the week ending April 10, 2026, <strong><span style=\"text-decoration: underline;\">a decrease of 1.0 million barrels per day week-over-week<\/span>.<\/strong> Over the past four weeks, <strong><span style=\"text-decoration: underline;\">crude oil imports averaged 6.1 million barrels per day<\/span><\/strong>, 1.3% more than the same four-week period last year. <strong><span style=\"text-decoration: underline;\">Total motor gasoline imports<\/span><\/strong> (including both finished gasoline and gasoline blending components) <strong><span style=\"text-decoration: underline;\">averaged 316,000 barrels per day, and distillate fuel imports averaged 118,000 barrels per day<\/span><\/strong> during the week ending April 10, 2026.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-50.png\" alt=\"\" class=\"wp-image-20267\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-50.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-50-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-50-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\">U.S. crude oil exports averaged 5.225 million barrels per day during the week ending April 10, 2026<\/span><\/strong>, an increase of 1.076 million barrels per day week-over-week. Over the past four weeks, crude oil exports averaged 4.054 million barrels per day.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-51.png\" alt=\"\" class=\"wp-image-20268\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-51.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-51-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-51-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\"><strong><strong><strong><strong><strong>U.S. crude oil refinery inputs averaged 16 million barrels per day<\/strong> during the week ending April 10, 2026, <strong>which was 208,000 barrels per day less week-over-week.<\/strong><\/strong><\/strong><\/strong><\/strong><\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-52.png\" alt=\"\" class=\"wp-image-20269\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-52.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-52-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-52-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><span style=\"text-decoration: underline;\"><strong><strong><span style=\"text-decoration: underline;\"><strong><strong><strong><strong><span style=\"text-decoration: underline;\"><strong><strong><span style=\"text-decoration: underline;\"><strong><strong><strong><strong>WTI is poised to open at $87.13 this morning, up $4.54 from Friday&#8217;s close.<\/strong><\/strong><\/strong><\/strong><\/span><\/strong><\/strong><\/span><\/strong><\/strong><\/strong><\/strong><\/span><\/strong><\/strong><\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><span style=\"text-decoration: underline;\">North American Rail Traffic<\/span><\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\">Week Ending April 15, 2026:<\/h4>\n\n\n\n<p><strong><u>Total North American weekly rail volumes were up (+1.31%) in week 16, compared with the same week last year.<\/u><\/strong>&nbsp;Total Carloads for the week ending April 15, 2026 were 337,539, up (+5.48%) compared with the same week in 2025, while weekly Intermodal volume was 327,175, down (-2.66%) year over year. 7 of the AAR\u2019s 11 major traffic categories posted year-over-year increases. The largest decrease came from Forest Products (-8.90%). The largest increase was Coal (+21.06%).<\/p>\n\n\n\n<p><strong><u>In the East,&nbsp;<\/u><\/strong><strong><u>CSX\u2019s total volumes were up (+4.60%),<\/u><\/strong>&nbsp;with the largest decrease coming from Metallic Ores and Metals (-7.89%), while the largest increase came from Grain (+20.18%).&nbsp;<strong><u>NS\u2019s total volumes were up (+0.12%),<\/u><\/strong>&nbsp;with the largest increase coming from Other (+17.82%), while the largest decrease came from Motor Vehicles and Parts (-10.49%).<\/p>\n\n\n\n<p><strong><u>In the West,&nbsp;<\/u><\/strong><strong><u>BNSF\u2019s total volumes were up (+4.04%),<\/u><\/strong>&nbsp;with the largest increase coming from Coal (+69.60%), while the largest decrease came from Grain (-2.11%).&nbsp;<strong><u>UP\u2019s total volumes were down (-0.59%),<\/u><\/strong>&nbsp;with the largest increase coming from Petroleum &amp; Petroleum Products (+15.52%), while the largest decrease came from Intermodal Units (-8.19%).<\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong><u>In Canada<\/u><\/strong>,&nbsp;<strong><u>CN\u2019s total volumes were up (+11.87%),<\/u><\/strong>&nbsp;with the largest increase coming from Grain (+136.50%).&nbsp;<strong><u>CPKCS\u2019s total volumes were down (-22.00%),<\/u><\/strong>&nbsp;with the largest increase coming from Farm Products (+33.18%), while the largest decrease came from Forest Products (-67.15%).<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Source Data: AAR &#8211; PFL Analytics<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"north-american-rig-count-summary\"><u><strong>North American Rig Count Summary<\/strong><\/u><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"rig-count\"><strong><u>Rig Count<\/u><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">North American rig count was down by -7 rigs week-over-week. The US rig count was down by -2 rigs week-over-week, and down by -42 rigs year-over-year.<\/span><\/strong> The US currently has 543 active rigs. <strong><span style=\"text-decoration: underline;\">Canada&#8217;s rig count was down by -5 rigs week-over-week and down by -4 rigs year-over-year.<\/span><\/strong> Canada currently has 130 active rigs. Overall, year-over-year we are down by -46 rigs collectively.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"302\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-53-1024x302.png\" alt=\"\" class=\"wp-image-20270\" style=\"aspect-ratio:3.39092472549279;width:777px;height:auto\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-53-1024x302.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-53-300x88.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-53-768x226.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-53.png 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-54.png\" alt=\"\" class=\"wp-image-20271\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-54.png 777w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-54-300x154.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-54-768x395.png 768w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>We are watching a few things out there for you:<\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We were at last week&#8217;s tank car committee meeting<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The April 2026 Tank Car Committee (TCC) meeting, held in Nashville, Tennessee, brought together key people from across the rail industry, including major railroads, regulatory agencies, and industry organizations, to address ongoing safety, regulatory, and operational priorities<\/span><\/strong>. The open session, conducted over April 15\u201316, focused on a structured agenda that included safety briefings, regulatory updates from agencies such as the FRA, PHMSA, and NTSB, and discussions surrounding the Tank Car Research Program. A significant portion of the meeting centered on active dockets, covering topics such as inspection standards, service equipment performance, cryogenic service approvals, and updates to AAR Manual M-1002 requirements\u2014highlighting the industry\u2019s continued emphasis on safety, compliance, and standardization.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">In addition to technical discussions, the committee addressed new business items and ongoing industry challenges, including equipment recalls, regulatory<\/span> <\/strong>changes in North America, and improvements to data tracking systems like UMLER.&nbsp; Overall, the April TCC meeting demonstrated the industry\u2019s proactive approach to improving tank car integrity, operational efficiency, and safety across the rail network, while setting the stage for continued progress in upcoming meetings later in 2026. As always please reach out to PFL for further details on what was discussed.&nbsp; David Cohen and Brian Baker were there representing PFL<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are Watching Petroleum Carloads<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The four-week rolling average of petroleum carloads carried on the six largest North American railroads fell to 29,080 from 29,206 which was a decrease of -126 rail cars week-over-week. Canadian volumes were mixed<\/span>. <\/strong>CN\u2019s shipments were lower by 17.0% week-over-week, CPKC\u2019s volumes were higher by 15.0% week-over-week. <span style=\"text-decoration: underline;\"><strong>U.S. shipments also mixed<\/strong>.<\/span> The BN had the largest percentage decrease and was down by -12.0%. The UP had the largest percentage increase and was up by +11.0% week-over-week.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Hormuz<\/em><\/strong><\/h4>\n\n\n\n<p>Hormuz opened, then closed, then closed harder, all inside 48 hours. Iranian Foreign Minister Abbas Araqchi declared the strait open to commercial traffic last Friday afternoon via X. Markets crashed within the hour with the second-largest one-day drop since the war began, WTI falling 11.4% to $83.85 and Brent 9% to $90.38. <strong><span style=\"text-decoration: underline;\">Iran&#8217;s IRGC reimposed restrictions last Saturday, citing &#8220;repeated breaches of trust&#8221; by the US on the port blockade, and by Sunday chief negotiator Qalibaf told Iranian state TV that &#8220;it is impossible for others to pass through the Strait of Hormuz while we cannot.&#8221;<\/span><\/strong><\/p>\n\n\n\n<p>The walkback walked back. The US Navy blockade of Iranian ports is in full force, forcing 23 ships to turn around over the weekend according to CENTCOM. The ten-day US-Iran truce expires this Tuesday, April 21. Over the weekend, Trump posted that Iran had &#8220;decided to fire bullets&#8221; in the strait and threatened to &#8220;knock out every single Power Plant, and every single Bridge, in Iran&#8221; if talks fail, while senior national security officials including the Defense Secretary, CIA Director, and Chairman of the Joint Chiefs cycled through the White House last Saturday.<\/p>\n\n\n\n<p>The IEA&#8217;s monthly oil market report last Tuesday flipped the agency&#8217;s 2026 outlook on its head. The Paris-based agency now projects world oil supply will fall 1.5 million bpd this year, calling it the largest oil supply shock in history. That is a reversal from last month&#8217;s forecast of 1.1 million bpd of supply growth. <strong><span style=\"text-decoration: underline;\">The IEA also lowered its 2026 demand growth forecast to a contraction of 80,000 bpd, from a 640,000 bpd rise in March<\/span>.<\/strong> The IMF separately warned that restoring a meaningful portion of disrupted Mideast Gulf oil and gas output could take up to two years.<\/p>\n\n\n\n<p>The demand response in North America is already visible. US crude net imports fell to just 66,000 bpd in the week ended April 10, the lowest in weekly data going back to 2001, as export loadings surged to 5.23 million bpd on strong Asian and European pulls. Asia-Pacific refiners have bought between 50 and 70 million barrels of May-loading US crude, with Japan alone taking roughly 30 million. <strong><span style=\"text-decoration: underline;\">Aframax rates for Vancouver loadings hit record highs on April 13 at $36.20 per ton, as Asian buyers turn to Western Canada, Alaska, and Latin America to replace lost Mideast Gulf barrels.<\/span><\/strong> Trans Mountain waterborne exports hit a four-month high of 457,000 bpd in March, and WTI is now landing in Asia at a $26.40 premium to Dubai, more economical than Abu Dhabi&#8217;s Murban at a $29.59 premium.<\/p>\n\n\n\n<p>For tank car owners, the oil price whipsaw does not change the structural reality of the North American crude-by-rail fleet. Available crude tank cars are scarce, new builds run twelve to twenty-four months from order to delivery, and any commitment to unit train service requires a minimum five-year lease plus a five-year take-or-pay with the carrier. Crews and locomotives are not sitting in reserve. <strong><span style=\"text-decoration: underline;\">Whether Hormuz reopens on Tuesday or stays shut through a second round of talks, neither outcome calls new crude cars into service<\/span>.<\/strong> California remains the canary given CARB specifications and the roughly 30 to 35 percent loss of in-state refining capacity since 2020. Marine insurance for vessels still willing to transit Hormuz is running roughly ten times pre-war prices. <strong><span style=\"text-decoration: underline;\">Stay tuned to PFL this story is changing by the minute.<\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching the Left Wing Canadian Prime Minister Carney<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The Liberals won a majority in government on Monday of last week<\/span>.<\/strong> Three by-election wins in two Toronto ridings and Terrebonne, Quebec, combined with five earlier floor crossings, gave Prime Minister Mark Carney 174 of 343 seats in the House of Commons. Parliament can sit until October 2029 without a no confidence vote. <strong><span style=\"text-decoration: underline;\">The Conservatives remain the official opposition at 140 seats.<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Carney put his new authority to work last Tuesday, meeting Manitoba Premier Wab Kinew<\/span> <\/strong>on Parliament Hill and <strong><span style=\"text-decoration: underline;\">signing a Canada-Manitoba Co-operation Agreement on Environmental and Impact Assessment,<\/span><\/strong> applying a &#8220;one project, one review&#8221; framework to major Manitoba infrastructure. <strong><span style=\"text-decoration: underline;\">The flagship project is Port of Churchill Plus<\/span>,<\/strong> which includes an all-weather road, rail line upgrades, a new energy corridor, and strengthened ice-breaking capacity. Federal money is moving, with $500,000 already provided to the Manitoba Crown Indigenous Corporation and $40 million over three years committed for Indigenous engagement on Major Projects Office files.<\/p>\n\n\n\n<p>Kinew is carrying the rail and pipeline part of the messaging. He has openly said that the northern Manitoba trade corridor could include a pipeline to ship Western Canadian energy to Hudson Bay for export to Europe and India. <strong>&#8220;<span style=\"text-decoration: underline;\">As the war in Iran drives up energy costs and destabilizes global supply chains, the importance of Churchill cannot be overstated,&#8221; Kinew said in a news release<\/span>.<\/strong> That is a striking endorsement of pipeline economics from a left-leaning premier, and more direct than anything the Prime Minister himself has said.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Carney&#8217;s contribution was carefully on-message and carefully vague<\/span>, <\/strong>talking about cutting red tape, trade corridors, and high-paying Canadian careers. <strong><span style=\"text-decoration: underline;\">He did not commit to a pipeline. Kinew did<\/span>.<\/strong> If Manitoba is serious about a natural gas line running through the province, right of way is the largest single line item in pipeline construction, and laying two pipes in one trench is the cheapest way to add export capacity for the next decade. <strong><span style=\"text-decoration: underline;\">That requires a Prime Minister willing to use the word oil.<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The more immediate rail question is what a Liberal majority means for Alberta&#8217;s planned West Coast crude oil pipeline<\/span>,<\/strong> which the province plans to file to the federal Major Projects Office this summer. Carney&#8217;s government has attached conditions, including a multi-billion-dollar oil sands investment in carbon capture and sequestration tied to the Pathways project. <strong><span style=\"text-decoration: underline;\">With a four-year majority runway, Ottawa has no tactical reason to soften those conditions.<\/span><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Alberta<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Last Tuesday, Alberta Energy Minister Brian Jean introduced a bill that puts Premier Danielle Smith&#8217;s cabinet at the front of the project review process for industrial proposals over $250 million in capital spending<\/span><\/strong>. Cabinet conducts an initial review with no fixed deadline. A deputy ministers&#8217; committee gets 30 days. Once cabinet issues an order, regulators have a four-month clock to assess and issue permits. Projects must come in with completed environmental assessments and First Nations consultations.<\/p>\n\n\n\n<p>The pace target is real. Jean noted that US major projects can be approved in under a month and called Ottawa&#8217;s two-year Major Projects Office window too slow, saying federal policy has cost Canada billions in foregone investment. <strong><span style=\"text-decoration: underline;\">Alberta still plans to file an application for a new West Coast crude oil pipeline this summer to that same federal Major Projects Office, even as the province builds its own faster track.<\/span><\/strong><\/p>\n\n\n\n<p>The pace push came the same week Alberta&#8217;s energy CEOs went after the federal industrial carbon price at the BMO CAPP Energy Symposium in Toronto last Tuesday. CAPP head Lisa Baiton said the war in the Middle East has put an exclamation point on the case for Canadian production. Cenovus CEO Jon McKenzie called the carbon levy a fallacy as a decarbonization driver. Birchcliff CEO Chris Carlsen said mid-sized producers do not have the scale to make CCS work. <strong><span style=\"text-decoration: underline;\">Under the Alberta-federal MOU signed late last year, Alberta&#8217;s industrial carbon price is set to rise from $95 to $130 per tonne, with Pathways CCS economics tied to that price. The April 1 deadline to finalize that piece passed nearly three weeks ago without resolution.<\/span><\/strong><\/p>\n\n\n\n<p>For rail planning, the practical upshot is a wider gap between what Alberta is willing to approve quickly and what Ottawa can deliver. The faster Alberta moves on an upgrader, refinery, or petrochemical expansion, the longer the lead time it gives car manufacturers and lessors.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Enbridge<\/em><\/strong><\/h4>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The White House issued nine presidential permits to Enbridge last Wednesday<\/span>,<\/strong> authorizing cross-border crude and petroleum product pipeline operations. Eight of the nine refresh existing authorizations dating back as far as 1991, covering Enbridge Mainline&#8217;s six lines in Pembina County North Dakota, two Mainline export lines from St. Clair Michigan, and the Southern Lights and existing Bakken pipelines. <strong><span style=\"text-decoration: underline;\">The ninth permit authorizes a newly constructed 24-inch pipeline tied to Enbridge&#8217;s Mainline Optimization Phase 2 project.<\/span><\/strong><\/p>\n\n\n\n<p>Phase 2 is the piece worth watching. The project would shift light crude off Enbridge&#8217;s Canadian Mainline onto the Bakken Pipeline system and into Dakota Access for delivery to Patoka, Illinois, and onward to the U.S. Gulf Coast. Enbridge has said Phase 2 could add up to 250,000 bpd of capacity as early as late 2028. <strong><span style=\"text-decoration: underline;\">Phase 1 of the Mainline Optimization program, approved in November 2024 at a cost of US$1.4 billion, adds 150,000 bpd to the Canadian Mainline and 100,000 bpd to Flanagan South, with those volumes targeted for 2027.<\/span><\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The Canadian Mainline is already running hot. In January 2026, Enbridge apportioned heavy and light crude nominations by 13 percent as Alberta production surged into the colder months<\/span><\/strong>. Trans Mountain took 457,000 bpd in waterborne exports in March, a four-month high, with 93,000 bpd going to the U.S. West Coast and the rest to Asia. Keystone has operated at 94 to 100 percent utilization through the first half of 2026. <strong><span style=\"text-decoration: underline;\">Phase 2 is a multi-year pull-forward for Canadian crude egress and a direct substitute for the remaining crude-by-rail volumes out of Western Canada.<\/span><\/strong><\/p>\n\n\n\n<p>The Bakken angle is separate. Line 26 currently flows 145,000 bpd northbound from North Dakota to Cromer, Manitoba and into the Enbridge Mainline system. A southbound reversal, paired with a new 24-inch border crossing, would create a direct southbound path through DAPL to the USGC. <strong><span style=\"text-decoration: underline;\">Bakken barrels moving to tidewater via pipeline is a structural negative for unit-train crude out of North Dakota, and a further tailwind for USGC export terminals.<\/span><\/strong><\/p>\n\n\n\n<p>For PFL customers operating crude tank car fleets, the announcement does not move immediate volumes. The first capacity additions are twelve to twenty-four months out and Phase 2 another year beyond. Lease decisions being made now on DOT-117 cars should price in a tighter residual crude-by-rail market by 2028, and that is the renewal conversation PFL is having with fleet operators this quarter.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Fuel Surcharges<\/em><\/strong><\/h4>\n\n\n\n<p>Every Class I railroad is raising fuel surcharges in May as the Iran war diesel spike works through mileage-based formulas that reference the EIA&#8217;s monthly on-highway diesel average. <strong><span style=\"text-decoration: underline;\">Union Pacific&#8217;s May surcharge rises to 57 cents per mile, up 73 percent from 33 cents in April. CSX goes to 74 cents per mile, up from 44 cents.<\/span><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\">The lag explains the magnitude. UP&#8217;s April surcharge referenced the February on-highway diesel price of $3.72 per gallon, before the war spike. On-highway diesel averaged $4.92 per gallon in March, up 40 percent from January&#8217;s $3.52. During the second week of April, it averaged $5.61. The full lag from the March and April moves will not reach shipper invoices until June and July. <strong><span style=\"text-decoration: underline;\">U.S. retail diesel averaged $5.608 per gallon in the week ended April 13, up about $1.80 per gallon since the week before the war began on February 23.<\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"520\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-57.png\" alt=\"\" class=\"wp-image-20283\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-57.png 975w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-57-300x160.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-57-768x410.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-left\">Shippers are not taking it quietly. The Alliance for Chemical Distribution petitioned the Surface Transportation Board in March to monitor surcharges on chlorine and other chemical shipments, citing the COVID-19 period and the 2024 rail labor disruption as examples of carriers leveraging external events into permanent fee structures. The STB said on March 20 it would ensure carriers engage in reasonable rules and practices on fuel surcharges and reiterated the 20-day notice requirement. <strong><span style=\"text-decoration: underline;\">Chlor-alkali producers Westlake and Olin have added their own fuel surcharges effective April 1 on rail and truck shipments.<\/span><\/strong><\/p>\n\n\n\n<p>For PFL customers, the fuel surcharge is an unavoidable layer on top of every loaded mile. The most exposed lanes are long-haul manifest moves in commodities that already carry thin margins, including chemicals, fertilizer, plastics, and ethanol. Tank car lease rates themselves have been steady, with non-pressurized CPC-1232 cars on 1-to-5-year terms at $800 per month and DOT-117s at $1,000. <strong><span style=\"text-decoration: underline;\">The fuel surcharge piece is what will hit the monthly invoice through Q2 and into Q3<\/span>.<\/strong> Where alternative routings exist on a given lane, PFL can help shippers model the carrier-by-carrier differential before the May schedules take effect.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Schedule 5.8<\/em><\/strong><\/h4>\n\n\n\n<p>Four shipper trade associations filed a joint motion with the Surface Transportation Board last Tuesday asking the agency to reclassify a key section of the Union Pacific-Norfolk Southern merger agreement from &#8220;Highly Confidential&#8221; to public. The filing came from the Alliance for Chemical Distribution, the American Chemistry Council, the American Fuel and Petrochemical Manufacturers, and The Fertilizer Institute. <strong><span style=\"text-decoration: underline;\">Those four groups cover virtually every bulk shipper category, PFL advises.<\/span><\/strong><\/p>\n\n\n\n<p>The section in question is Schedule 5.8, which defines what qualifies as a &#8220;Materially Burdensome Regulatory Condition&#8221; under the merger agreement. That definition is the trigger that would let UP walk away from the $250 billion-plus transaction and pay Norfolk Southern a $2.5 billion breakup fee. In other words, Schedule 5.8 is where UP has listed the regulatory concessions it is not willing to accept. <strong><span style=\"text-decoration: underline;\">The shipper groups argue the document contains no trade secrets, rates, costs, or shipper-identifying data, and therefore does not qualify as confidential under the protective order the STB entered in August 2025.<\/span><\/strong><\/p>\n\n\n\n<p>The STB rejected UP and NS&#8217;s original December 19 merger application on January 16 as incomplete, specifically flagging the missing Schedule 5.8 as one of the deficiencies. <strong><span style=\"text-decoration: underline;\">UP and NS are scheduled to refile their revised application on April 30, ten days after this report publishes.<\/span><\/strong> Whether Schedule 5.8 is made public or kept sealed will shape what shippers, competing railroads, and state attorneys general can see and contest during the comment window that follows.<\/p>\n\n\n\n<p>For rail car interests, this is not background noise. The conditions UP has flagged as deal-breakers are effectively its map of where it expects regulatory fights, which means they are also a map of where service commitments, gateway access, interchange rules, and rate remedies are most likely to be negotiated. Chemical, petrochemical, and fertilizer shippers pushing for disclosure are doing so because they want to know, before comment period closes, whether the combined carrier is willing to absorb conditions that protect their interests or intends to walk if those conditions are imposed.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Permian NGL<\/em><\/strong><\/h4>\n\n\n\n<p>Enterprise Products Partners hosted its annual supply appraisal forecast call last Tuesday and raised its five-year outlook for Permian NGL production. <strong><span style=\"text-decoration: underline;\">The company now expects Permian NGLs from natural gas processing to grow 24 percent from 2025 levels to 4.7 million bpd by 2030, 200,000 bpd above the April 2025 outlook<\/span>.<\/strong> Associated natural gas is projected to grow 23 percent to 35.4 bcf per day over the same period. The 2030 crude forecast was trimmed.<\/p>\n\n\n\n<p class=\"has-text-align-left\">The basin is getting gassier. Enterprise now projects NGL and natural gas output to outpace crude production by 60%across the forecast horizon, up from a 40% gap in last year&#8217;s view. Wells are producing higher gas-to-oil ratios as operators step into new horizons and refine completion techniques. <strong><span style=\"text-decoration: underline;\">That is a structural shift in what the Permian pulls out of the ground, not a cyclical move.<\/span><\/strong> Total U.S. NGL production was trimmed by 100,000 bpd to 9.0 million bpd in 2030, which means the Permian is taking share from other basins, rather than riding a general tide.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"520\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-58.png\" alt=\"\" class=\"wp-image-20284\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-58.png 975w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-58-300x160.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-58-768x410.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-left\">The Iran war is adding near-term demand pull. Enterprise executives said on the call that NGL demand is stronger for longer because of the supply constraints that emerged over the last six to seven weeks, and that LPG export capacity is sufficient to handle expected volume growth for the foreseeable future. <strong><span style=\"text-decoration: underline;\">LPG exports out of the U.S. Gulf Coast are the primary channel for moving Permian propane and butane to Asian and European buyers displaced by the Hormuz disruption.<\/span><\/strong><\/p>\n\n\n\n<p>For rail, the read is mixed but net positive on the non-crude side. Permian NGL takeaway is primarily a pipeline story, with Enterprise&#8217;s Bahia line, Mont Belvieu fractionation, and Neches River export terminal absorbing most of the physical volume growth. But pressurized LPG cars still matter for inland distribution, fractionation redistribution, and any lane where pipeline capacity falls short. <span style=\"text-decoration: underline;\"><strong>Pressurized tank car lease rates on one to five year terms are at $1,200 per month and utilization is holding firm.<\/strong>&nbsp;<\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We Are Watching Union Pacific and Rocky Mountain Steel<\/em><\/strong><\/h4>\n\n\n\n<p>This week, Union Pacific signed a seven-year rail supply agreement with Rocky Mountain Steel Mills, the only remaining dedicated steel rail production mill in the United States.<\/p>\n\n\n\n<p>The Pueblo, Colorado facility has supplied rail to Union Pacific since the early 1890s. The new long-term contract extends that relationship and signals that UP is planning for a significantly larger network, <strong><span style=\"text-decoration: underline;\">UP CEO Jim Vena directly linked the deal to the proposed Norfolk Southern merger, noting the partnership becomes more important as the railroad prepares to expand to a coast-to-coast system.<\/span><\/strong><\/p>\n\n\n\n<p>The investment happening in Pueblo right now we thought was interesting. <strong><span style=\"text-decoration: underline;\">Rocky Mountain Steel is putting more than $1 billion into a new long-rail mill at the site, expected to begin operations later this year<\/span><\/strong>. The mill will produce <strong><span style=\"text-decoration: underline;\">328-foot rail sections versus the traditional 80-foot sections used today<\/span>,<\/strong> resulting in approximately 80% fewer welds along the track. Fewer welds mean fewer failure points, lower maintenance costs, and better ride quality. <strong><span style=\"text-decoration: underline;\">The mill will be powered by a dedicated 1,800-acre solar farm, making it the world&#8217;s largest solar-powered steel mill when complete<\/span>.<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">The deal also resolved an existing legal dispute<\/span><\/strong>: Union Pacific withdrew a previously filed lawsuit against Rocky Mountain Steel in Nebraska as part of the agreement. Steel at the Pueblo facility is produced by United Steelworkers union members.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>A seven-year domestic rail supply agreement covering what may become a 50,000-mile transcontinental network is not routine procurement<\/strong>.<\/span> In a market where steel tariffs are in effect and domestic manufacturing is a political priority, locking in a long-term U.S.-only supply deal is both strategically and politically smart. It is also a clear statement that Union Pacific is building for the long term regardless of how the merger review unfolds.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Class 1 Industrial Headcount<\/em><\/strong><\/h4>\n\n\n\n<p class=\"has-text-align-left\"><strong><span style=\"text-decoration: underline;\">Class I railroads employed 115,080 workers in the United States in March 2026, a 0.23% increase from February 2026\u2019s count of 114,811 but a -3.75% year-over-year decrease from March 2025\u2019s total of 119,562<\/span><\/strong>, according to Surface Transportation Board data.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"706\" height=\"375\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-59.png\" alt=\"\" class=\"wp-image-20285\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-59.png 706w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-59-300x159.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-59-600x318.png 600w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"707\" height=\"376\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-60.png\" alt=\"\" class=\"wp-image-20286\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-60.png 707w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-60-300x160.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-60-600x318.png 600w\" sizes=\"auto, (max-width: 707px) 100vw, 707px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"706\" height=\"375\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-61.png\" alt=\"\" class=\"wp-image-20287\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-61.png 706w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-61-300x159.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-61-600x318.png 600w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-left\"><strong><span style=\"text-decoration: underline;\">Three of the six employment categories posted month-over-month increases between February and March 2026. These were Professional and Administrative<\/span><\/strong>, up 0.62% to 8,887 workers; <strong><span style=\"text-decoration: underline;\">Maintenance of Way and Structures<\/span><\/strong>, which increased 0.64% to 28,343 workers; and <strong><span style=\"text-decoration: underline;\">Transportation (train and engine)<\/span><\/strong>, which increased 0.51% to 48,860 workers.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\"><strong>The categories that posted month-over-month decreases were Executives, officials, and staff assistants<\/strong>,<\/span> down -0.41% to 8,079 workers; <span style=\"text-decoration: underline;\"><strong>Maintenance of Equipment and Stores<\/strong>,<\/span> down -0.72% to 16,234 workers; and <strong><span style=\"text-decoration: underline;\">Transportation (other than train and engine)<\/span><\/strong>, down -1.31% to 4,677 workers.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Year-over-year, only one category posted an employment gain: Executives, officials, and staff assistants<\/span><\/strong>, up 2.76%.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Categories that registered year-over-year decreases in March 2026 were Professional and Administrative<\/span>, <\/strong>down -7.96%; <strong><span style=\"text-decoration: underline;\">Maintenance of Way and Structures<\/span><\/strong>, down -0.53%; <strong><span style=\"text-decoration: underline;\">Maintenance of Equipment and Stores<\/span><\/strong>, down -4.79%; <strong><span style=\"text-decoration: underline;\">Transportation (other than train and engine)<\/span><\/strong>, down -7.40%; and <span style=\"text-decoration: underline;\"><strong>Transportation (train and engine)<\/strong>,<\/span> down -5.03%.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Key Economic Indicators<\/em><\/strong><\/h4>\n\n\n\n<p class=\"has-text-align-center\"><strong>Producer Price Index<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\"><span style=\"text-decoration: underline;\"><strong>In March 2026, the Producer Price Index (PPI) for final demand rose 0.2% month-over-month<\/strong>,<\/span> easing further from the 0.3% increase in February and indicating a gradual moderation in upstream price pressures. Core PPI (final demand less foods, energy, and trade services) increased 0.2% month over month, in line with February\u2019s pace. The monthly increase was driven primarily by services, which rose 0.3%, while goods increased 0.1%. Within goods, food prices were relatively flat, while energy prices were mixed; goods less foods and energy increased 0.2%, suggesting steady but cooling core goods pricing. Within services, trade margins remained firm, while transportation and warehousing posted modest gains, and services less trade, transportation, and warehousing were subdued, pointing to more balanced services inflation.<\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong><span style=\"text-decoration: underline;\">In March 2026, the Consumer Price Index (CPI) increased 0.3% month-over-month<\/span><\/strong>, moderating slightly from February\u2019s gain, and was up approximately 2.8% year over year. Core CPI (all items less food and energy) rose 0.3% month-over-month and was up approximately 2.7% year-over-year. Shelter remained the largest contributor to the monthly increase. Food prices continued to rise modestly, while energy prices were mixed, contributing to a slightly softer headline figure compared to the prior month.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"420\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-62.png\" alt=\"\" class=\"wp-image-20288\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-62.png 800w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-62-300x158.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-62-768x403.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center\"><strong>Industrial Output and Capacity Utilization<\/strong><\/p>\n\n\n\n<p>Manufacturing accounts for approximately 75% of total output. <strong><span style=\"text-decoration: underline;\">Manufacturing output in March declined 0.10% from February 2026, following a 0.20% increase in February.<\/span><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\">Capacity utilization is a measure of how fully firms are using machinery and equipment.<strong> <span style=\"text-decoration: underline;\">Capacity utilization decreased by 0.48 percentage points from February in March.&nbsp;<\/span><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"420\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-63.png\" alt=\"\" class=\"wp-image-20289\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-63.png 800w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-63-300x158.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/04\/image-63-768x403.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-left\"><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>100, 21.9K 117J Tanks located off of All Class 1s in Midwest. For use in CO2 service. Period: 6 months.<\/li>\n\n\n\n<li>30-50, 30K 117J Tanks located off of NS or CSX in Northeast. For use in C5 service. Period: 1 year.<\/li>\n\n\n\n<li>20-50, 4000-5000 Covered Hoppers located off of UP or BN in Houston. For use in Urea, Potash, Ammonium Sulfate service. Period: 6-12 Months.<\/li>\n\n\n\n<li>200, 33K Pressure Tanks located off of CSX or NS in Ohio. For use in Propylene service. Period: 18 Months.<\/li>\n\n\n\n<li>30-50, 25.5K DOT 111 Tanks located off of All Class 1s in Anywhere. For use in Asphalt service. Period: 1-3 Years.<\/li>\n\n\n\n<li>40, 33K Pressure Tanks located off of UP in Eunice, LA. For use in Propane service. Period: 1 Year.<\/li>\n\n\n\n<li>40, 29K DOT 111 Tanks located off of UP or BN in Midwest. For use in Veg Oil service. Period: 5 Year.<\/li>\n\n\n\n<li>70, 30K DOT 117 Tanks located off of NS or CSX in Ohio. For use in Diesel service. Period: 3 months.<\/li>\n\n\n\n<li>100, 33K Pressure Tanks located off of UP or BN in Texas. For use in Propane service. Period: 6 Months.<\/li>\n\n\n\n<li>20, 117J Tanks located off of NS, CSX, CN, or CPKC in Various. For use in C5 service. Period: 1 year. Need gauge rods.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>28, 3400CF Covered Hoppers located off of UP BN in Texas. For use in Cement service. Cement Gates needed.<\/li>\n\n\n\n<li>20, 17K DOT111 Tanks located off of various class 1s in various locations. For use in corn syrup service.<\/li>\n\n\n\n<li>120, Various Open-Top Aluminum Rotary Gondolas located off of various class 1s in various locations. For use in Sulphur service. Built 2004 or later.<\/li>\n\n\n\n<li>30, 29K DOT111 Tanks located off of various class 1s in Chicago. For use in Veg Oil service.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>106, 31.8K CPC1232 Tanks located off of UP or BN in Texas. Last used in Diesel.<\/li>\n\n\n\n<li>20, 31.8K DOT117R Tanks located off of UP or BN in Texas. Last used in Diesel.<\/li>\n\n\n\n<li>86, 29K DOT117R Tanks located off of UP or BN in Texas. Last used in Gasoline. Coiled and Insulated.<\/li>\n\n\n\n<li>21, 6351 Covered Hoppers located off of CN in Wisconsin. Last used in DDG. Available until February 2027.<\/li>\n\n\n\n<li>29, 6500 Covered Hoppers located off of CN in Wisconsin. Last used in DDG. Available until February 2027.<\/li>\n\n\n\n<li>50, 20K DOT117J Tanks located off of All Class 1s in Moving. Last used in Styrene.<\/li>\n\n\n\n<li>29, 25.5K DOT117J Tanks located off of UP or BN in Texas. Cars are currently clean. Cars are currently clean.<\/li>\n\n\n\n<li>90, 30K DOT117J Tanks located off of UP or BN in Corpus Christie. Last used in Diesel.<\/li>\n\n\n\n<li>200, 340W DOT 112J Tanks located off of All Class 1s in Multiple Locations. Last used in Propane and Butane. Cars are currently clean.<\/li>\n\n\n\n<li>15, 6200CF Covered Hoppers located off of All Class 1s in Wisconsin. Last used in Plastic. Cars are currently clean.<\/li>\n\n\n\n<li>30, 6500CF Covered Hoppers located off of All Class 1s in Wisconsin. Last used in Plastic. Cars are currently clean.<\/li>\n\n\n\n<li>50, 30K DOT117J Tanks located off of UP or BN in Corpus Christie. Last used in Gasoline.<\/li>\n\n\n\n<li>24, 21K Stainless Steel Tanks located off of UP in Texas \/ Mexico Border. Last used in SULFACTANT. Cars are currently clean.<\/li>\n\n\n\n<li>34, 30K DOT 111 Tanks located off of UP in Texas \/ Mexico Border. Last used in Veg Oil. Cars are currently clean.<\/li>\n\n\n\n<li>117, 30K DOT117R Tanks located off of UP or BN in Texas. Last used in Gasoline.<\/li>\n\n\n\n<li>100, 28.4K DOT 117J Tanks located off of UP or BN in Beaumont, TX. Cars are currently clean.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>50, 31.8K CPC1232 Tanks located off of UP or BN in TX. Last used in Multiple. Requal Due in 2025.<\/li>\n\n\n\n<li>35, 3400CF Covered Hoppers located off of UP or BN in Midwest. Last used in Sand.<\/li>\n\n\n\n<li>25, 30K 117J Tanks located off of CSX in Jackson, TN. Last used in Fuels. Newly Requalified.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center\"><strong>Call PFL today to discuss your needs and our availability and market reach. Whether you are looking to lease cars, lease out cars, buy cars, or sell cars call PFL today at 239-390-2885<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<style>\r\n    #map {\r\n        height: 600px;\r\n        width: 100%;\r\n    }\r\n    #filterBar {\r\n        text-align: center;\r\n        margin: 20px 0;\r\n    }\r\n    table {\r\n        width: 100%;\r\n        border-collapse: collapse;\r\n        margin-top: 10px;\r\n        font-family: sans-serif;\r\n    }\r\n    th {\r\n        background-color: #020f52;\r\n        color: white;\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n        text-align: left;\r\n    }\r\n    td {\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n    }\r\n    tbody tr:nth-child(odd) {\r\n        background-color: #f9f9f9;\r\n    }\r\n    tbody tr:nth-child(even) {\r\n        background-color: #e8e8e8;\r\n    }\r\n    tr:nth-of-type(odd){background-color:#d7f6f7}\r\n    td{border:1px solid #ccc;padding:8px}\r\n#map{height:350px;max-width:100%}#dataTable,table{border-collapse:collapse;width:100%;height:400px;display:block;overflow:hidden;overflow-y:auto}th{background-color:#020f52;color:#fff;text-align:center;position:sticky;top:0},tr{border:1px solid #000}<\/style>\r\n<h3 align=\"center\">Live Railcar Markets<\/h3>\r\n            <style>.custom-table{width:100%;border-collapse:collapse}.custom-table td,.custom-table th{border:1px solid #ccc;padding:8px}body{margin:0;padding:0}.tab-container{display:flex}.tab{cursor:pointer;padding:10px;border:1px solid #ccc}.tab.active{background-color:#f0f0f0}.table-container{max-height:400px;overflow-y:auto}<\/style>\r\n                <div class=\"tab-container\">\r\n        <div class=\"tab active\" onclick='showTable(\"leaseOfferTable\", this)'>Lease Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"leaseBidsTable\", this)'>Lease Bids<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesOffersTable\", this)'>Sales Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesBidsTable\", this)'>Sales Bids<\/div>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseOfferTable\" class=\"custom-table\" style=\"display:table\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Size<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Term<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesOffersTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Clean<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n\r\n    <script>\r\n    function showTable(tableId, tabElement) {\r\n        const tables = document.querySelectorAll(\".custom-table\");\r\n        tables.forEach(table => table.style.display = \"none\");\r\n        document.getElementById(tableId).style.display = \"table\";\r\n        const tabs = document.querySelectorAll(\".tab\");\r\n        tabs.forEach(tab => tab.classList.remove(\"active\"));\r\n        tabElement.classList.add(\"active\");\r\n    }\r\n\r\n    function fetchData(url, tableId) {\r\n    fetch(url)\r\n        .then(response => response.json())\r\n        .then(data => {\r\n            const table = document.getElementById(tableId).getElementsByTagName('tbody')[0];\r\n            data.forEach(item => {\r\n                const row = table.insertRow();\r\n                Object.values(item).forEach(value => {\r\n                    const cell = row.insertCell();\r\n                    \/\/ Check if value is empty or null and set it to an empty string or custom string like '\u2014'\r\n                    cell.innerHTML = value ? value : '\u2014';  \/\/ Replace blank values with '\u2014' or leave as blank\r\n                });\r\n            });\r\n        })\r\n        .catch(error => console.error('Error fetching data:', error));\r\n}\r\n\r\n\r\n    \/\/ Fetch data for each section\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_offer.php', 'leaseOfferTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_bids.php', 'leaseBidsTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_offer.php', 'salesOffersTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_bids.php', 'salesBidsTable');\r\n    <\/script>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\">PFL will be at the Following Conferences<\/h4>\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>\u201cPessimism never won any battle.\u201d &#8211;&nbsp; Dwight D. Eisenhower Jobs Update Stocks closed higher on Friday of last week and higher week-over-week The DOW closed higher on Friday of last week, up 869.20 points (1.79%), closing out the week at 49,447.92, up 1,531.35 points week-over-week. The S&amp;P 500 closed higher on Friday of last week, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":318,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-20259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-railcar-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Railcar Market Report for April 19, 2026<\/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\/pfl-railcar-report-4-20-2026\/\" \/>\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=\"28 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/pfl-railcar-report-4-20-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/pfl-railcar-report-4-20-2026\\\/\"},\"author\":{\"name\":\"guida\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/f3f5ee51a3b008e32db5c8092a5fd51d\"},\"headline\":\"PFL Railcar Report 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Railcar Report 4-20-2026\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/\",\"name\":\"PFL Petroleum Services LTD\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\",\"name\":\"PFL Petroleum Services 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