{"id":9565,"date":"2023-05-17T18:52:36","date_gmt":"2023-05-17T22:52:36","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=9565"},"modified":"2023-06-09T10:05:59","modified_gmt":"2023-06-09T14:05:59","slug":"petroleum-daily-report-5-17-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-5-17-2023\/","title":{"rendered":"Petroleum Daily Report 5-17-2023"},"content":{"rendered":"\n

Oil prices settled higher today on optimism over oil demand and US debt ceiling negotiations. President Biden and Speaker McCarthy both reiterated their determination to reach a deal soon after a month-long standoff. The two will now be negotiating directly. “Today\u2019s strong oil trade was all about the expectation of a debt ceiling agreement, likely by the end of this week, that appeared to lift a negative burden across most asset classes, including oil,” said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. This outweighed a crude inventory build of 5MM\/bbls vs a forecasted drop of 900K\/bbls. WTI traded up $1.97 or 2.8% to close at $72.83. Brent traded up $2.05 or 2.7% to close at $76.96.<\/p>\n\n\n\n

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Oil prices settled higher today on optimism over oil demand and US debt ceiling negotiations. <\/p>\n","protected":false},"author":2,"featured_media":9558,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\nThe PFL Petroleum Markets Report for May 17th, 2023<\/title>\n<meta name=\"description\" content=\"Oil prices settled higher today on optimism over oil demand and US debt ceiling negotiations. 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