{"id":8669,"date":"2023-02-03T20:14:17","date_gmt":"2023-02-04T01:14:17","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=8669"},"modified":"2023-06-16T14:54:32","modified_gmt":"2023-06-16T18:54:32","slug":"petroleum-daily-report-2-3-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-2-3-2023\/","title":{"rendered":"Petroleum Daily Report 2-3-2023"},"content":{"rendered":"\n

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Oil prices were lower today, falling to three-week lows even as job growth accelerated sharply. WTI was down 7.9% and Brent 7.8% week over week. Interest rates are likely to weigh on the US and EU economies in 2023 and these fears have been weighing on oil markets. “The market can’t decide whether it should be nervous about a recession or more worried about the Federal Reserve being aggressive with interest rates,” said Phil Flynn, an analyst at Price Futures Group. US energy firms cut the number of oil and gas rigs at the highest rate since June 2020, falling by 10 to 599. Production remained unchanged at 12.2Mm\/bpd. WTI traded down $2.49 or -3.3% to close at $73.39. Brent traded down $2.23 or -2.7% to close at $79.94.<\/p>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"

Oil prices were lower today, falling to three-week lows even as job growth accelerated sharply<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\nThe PFL Petroleum Markets Report for February 3rd, 2023<\/title>\n<meta name=\"description\" content=\"Oil prices were lower today, falling to three-week lows even as job growth accelerated sharply\" \/>\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-2-3-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" 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