DTN Oil Update
Oil futures settled higher Friday with their biggest weekly advance in three months as market participants covered short positions amid fresh buying in crude fueled by geopolitical risks.
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DTN Oil Update
Oil futures rose for a second consecutive day on Friday morning, supported by geopolitical risks which propelled key crude benchmarks 3% higher in the previous session.
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DTN Oil Update
Crude futures jumped 3% on Thursday, Jan. 8, their most in a day since July, driven by White House approval for new sanctions on Russian oil.
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DTN Oil Update
Crude futures rallied Thursday, Jan. 8, on reports that U.S. President Donald Trump had approved a bipartisan Senate bill to impose sanctions on buyers of Russian oil, helping the market reverse a two-day decline.
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DTN Oil Update
Crude futures tumbled by 2% for a second consecutive day on Wednesday.
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DTN Oil Update
Oil futures steadied Wednesday, Jan. 7, ahead of the release of U.S. weekly inventory data from the Energy Information Administration (EIA).
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DTN Oil Update
Crude futures settled down 2% Tuesday, Jan. 6, reversing the prior day's rally, as concerns of oversupply returned to depress a market boosted by risks related to OPEC member Venezuela.
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What DTN Is Watching
Reports for Friday include December employment and wage data from the Bureau of Labor Statistics at 7:30 a.m. CST. Later in the afternoon at 2:30 p.m. CST, CFTC will be back to normal scheduling with their weekly Commitments of Traders report, including position data as of Tuesday, January 6.
WeatherA system is moving out of the Midwest and into Ontario Friday morning. Scattered showers along its cold front extend south to the Gulf of America. A second system is moving into the Southern Plains, with a band of snow forming in Colorado, southwestern Kansas, and the Texas and Oklahoma Panhandles. That band will move through Kansas on its way into the Midwest Friday night. The system itself should produce some heavier rain across the Delta tonight, which may include some severe weather as it meets up with the previous cold front.
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