DTN Oil Update
Oil prices fell about 1% or more on Friday morning as reports of a potential deal to end the Iran war and reopen the Strait of Hormuz to energy shipping put crude futures on track to their sharpest weekly loss since early April.
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DTN Oil Update
Oil prices settled little changed after a volatile session Thursday amid reports that U.S. and Iranian negotiators were closing in on a deal to extend their ceasefire and reopen the Strait of Hormuz that is critical to energy shipping.
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DTN Oil Update
Oil and product futures rose Thursday morning after U.S. and Iranian forces traded fresh attacks, threatening a shaky ceasefire amid ongoing negotiations to end the war that has caused the largest oil supply disruption in history and soaring energy prices.
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DTN Oil Update
Oil futures dropped Wednesday amid hopes for a ceasefire agreement between the United States and Iran that could end the dual-blockade of the Strait of Hormuz, which has been in place since March.
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DTN Oil Update
Oil and product futures fell Wednesday morning on news of a partial resumption of flows from the Persian Gulf as the U.S. and Iran were reportedly close to reaching a deal which would end the double-blockade of the Strait of Hormuz which has choked the world off more...
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DTN Oil Update
Global crude benchmarks diverged sharply Tuesday as a fresh escalation in the Middle East conflict reignited global supply worries that boosted Brent futures while deteriorating domestic consumer data placed a lid on U.S. oil futures.
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DTN Oil Update
Brent crude oil futures rebounded Tuesday morning after the U.S. carried out fresh attacks on Iran despite an existing ceasefire, raising doubts that a peace deal with Iran was imminent.
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What DTN Is Watching
On Friday, USDA will release their weekly Export Sales report at 7:30 a.m. CDT, delayed by one day due to Monday's holiday. In the afternoon, CFTC will release the weekly Commitments of Traders report, updating trader positions as of May 26.
WeatherA zone of showers continues to be quite active across the South and Southeast on Friday due to a lingering old front and upper-level system in the area, which continues through the weekend. A wave of scattered showers continues from southern South Dakota into the Delta, which could produce some heavy rain. And a system in the West is finally starting to make a move northeast toward the Northern Plains. Doing so will bring scattered showers to the Pacific Northwest, Canadian Prairies, and the rest of the Plains throughout Friday.
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