{"id":9179,"date":"2023-04-06T18:22:35","date_gmt":"2023-04-06T22:22:35","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=9179"},"modified":"2023-06-16T15:45:36","modified_gmt":"2023-06-16T19:45:36","slug":"petroleum-daily-report-4-6-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-4-6-2023\/","title":{"rendered":"Petroleum Daily Report 4-6-2023"},"content":{"rendered":"\n

On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n

Oil prices closed slightly higher today notching the 3rd straight week of gains. Both benchmarks were up more than 6% this week after OPEC+ announced its production cut on Sunday. Limiting gains, however, U.S. labor market data pointed to slowing economic growth, and there was also slower-than-expected growth in the U.S. services sector. “Demand destruction is a function of the threat of recession is greater than the cut by OPEC+,” said Robert Yawger, said director of energy futures at Mizuho Securities. Buyers of put options that hedge downside risk were more active than buyers of call options, which bets on rising prices, implying traders were worried prices could fall, Yawger added. WTI traded up $.09 or .1% to close at $80.70. Brent traded up $.13 or .2% to close at $85.12.<\/p>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"

Oil prices closed slightly higher today notching the 3rd straight week of gains.<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\nThe PFL Petroleum Markets Report for April 6th, 2023<\/title>\n<meta name=\"description\" content=\"Both benchmarks were up more than 6% this week after OPEC+ announced its production cut on Sunday. Limiting gains\" \/>\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-4-6-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\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-4-6-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/\"},\"author\":{\"name\":\"David Cohen\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/a1626ada30eb419d743c03635e5ea619\"},\"headline\":\"Petroleum Daily Report 4-6-2023\",\"datePublished\":\"2023-04-06T22:22:35+00:00\",\"dateModified\":\"2023-06-16T19:45:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/\"},\"wordCount\":139,\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Data-Petro-Daily.jpg\",\"articleSection\":[\"Petroleum Daily\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/\",\"name\":\"The PFL Petroleum Markets Report for April 6th, 2023\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-4-6-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Data-Petro-Daily.jpg\",\"datePublished\":\"2023-04-06T22:22:35+00:00\",\"dateModified\":\"2023-06-16T19:45:36+00:00\",\"description\":\"Both benchmarks were up more than 6% this week after OPEC+ announced its production cut on Sunday. 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