DTN Oil Update
ULSD and crude oil futures rose Wednesday, rebounding from two straight days of losses, while gasoline prices dipped following a mixed weekly inventory report from the U.S. Energy Information Administration (EIA).
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DTN Oil Update
Oil futures rose for the first time in three sessions on Wednesday, Dec. 10, rebounding from two-week lows, following a weekly drawdown in crude oil inventories reported by the American Petroleum Institute.
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DTN Oil Update
Oil futures hit two-week lows on Tuesday, Dec. 9, amid concerns about mounting Russian crude supplies offered at deeper discounts that could add to the market's oversupply.
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DTN Oil Update
Oil futures remained soft on Tuesday, Dec. 9, as the Kremlin reacted favorably to a new U.S. national security strategy that called for better relations with Russia, which faces both U.S. and European sanctions on its energy...
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DTN Oil Update
Oil futures contracts dropped 2% Monday as concerns about abundant global supply overshadowed sanctions on Russian oil.
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DTN Oil Update
ULSD, gasoline and crude oil futures contracts tumbled Monday (12/8) amid expectations of abundant global supply, as Russia works to circumvent U.S. sanctions on its oil trade.
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DTN Oil Update
Oil futures rallied Friday, Dec. 5, on news reports that the Group of Seven Countries (G7) and the European Union could ban all Western tankers from carrying Russian oil, a development that would affect near-term energy supplies.
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What DTN Is Watching
On Thursday, the U.S. Census Bureau will release the delayed September trade balance report at 7:30 a.m. CST. At that same time, USDA will release another catch-up export sales report, for the week ending November 13. Later in the afternoon, ERS will release a series of commodity outlooks such as their monthly Feed, Wheat, and Oil Crops Outlooks at 2 p.m. CST.
WeatherA clipper system in the Canadian Prairies and Northern Plains is producing scattered showers. That is organizing into a band of moderate precipitation across Montana that will spread southeast through Iowa and into the Ohio Valley throughout the day. Though it will be a mix of rain, freezing rain, and snow across the Northern Plains, it should turn to all snow across the Midwest. In general, 3-6" of snow is forecast in the heaviest part of the band.
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