DTN Oil Update
Oil prices edged higher in a choppy morning session Monday, Oct. 6, after OPEC+ agreed to a smaller-than-expected production quota increase for November. Emerging signs of a growing oil glut kept gains in check.
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DTN Oil Update
Oil prices steadied after a four-day selloff pressured mainly by oversupply concerns that took them to their lowest since early June.
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DTN Oil Update
Oil prices extended their decline into a fourth trading day as the prospects of new OPEC production hikes weighed on sentiment in a market that already looked to be oversupplied by the year-end.
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DTN Oil Update
Oil prices fell for a third straight trading day, entering the third quarter on the same weak note that they finished the second, as sluggish macroeconomic data, a U.S. government shutdown and prospects of an OPEC supply hike...
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DTN Oil Update
Oil prices fell for a second straight month and quarter on Tuesday, Sept. 30, amid concerns over a looming OPEC production hike and a decline in U.S. consumer confidence.
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DTN Oil Update
Oil prices extended their decline Tuesday morning, heading toward a second straight monthly and quarterly loss.
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DTN Oil Update
Oil prices fell nearly 3% Monday, Sept. 29, their biggest one-day slide since mid-July, on signs a monthly OPEC+ meeting this week will greenlight more output that could add to supply.
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What DTN Is Watching
As the government shutdown enters its sixth day (fourth business day) there are no macroeconomic reports due for release, but the normally scheduled Export Inspections and Crop Progress reports will not be released. Traders will likely be following technical guidelines and other supply and demand clues such as basis levels to gauge the pace of U.S. harvest in the absence of weekly USDA updates.
WeatherA front from the Texas Panhandle up through Wisconsin early Monday morning is producing a string of showers and thunderstorms. The front will continue southeast throughout the day. Additional showers moving north from the Gulf of America will come up to meet the front Monday night in the Ohio and Tennessee Valleys, which could lead to some heavier rainfall there on Tuesday.
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