DTN Oil Update
Oil futures closed mixed Friday in thin trading activity ahead of the U.S. Labor Day holiday amid a U.S.-Iran hostility escalation and the expectation of tightening global supplies.
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DTN Oil Update
Oil prices retreated Friday but remained on track for sharp weekly gains ahead of the Labor Day holiday as renewed U.S.-Iran hostilities sustained fears of prolonged supply disruptions through the Strait of Hormuz.
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DTN Oil Update
Crude futures gave back most of the gains that elevated them to six-week highs Thursday as the market balanced concerns over the impact of heightened fighting in the Middle East with U.S. President Donald Trump's hints that current...
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DTN Oil Update
Crude futures hovered near six-week highs Thursday morning amid escalating Middle East tensions from U.S. bombing of Iran and Israel's renewed threats of military strikes against Tehran.
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DTN Oil Update
Oil markets rebounded from intermittent weakness to settle higher Wednesday after federal data showed a larger-than-expected draw in U.S. commercial crude stocks.
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DTN Oil Update
Crude futures retreated Wednesday from one-month highs as traders awaited official U.S. petroleum inventory data for last week amid mixed signals for energy freight on the Strait of Hormuz from the U.S.-Iran war.
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DTN Oil Update
Oil futures climbed over 5% on Tuesday after the United States launched new strikes against Iran raising concerns of a disruption to vessel traffic through the Strait of Hormuz.
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What DTN Is Watching
On Friday, the U.S. Bureau of Labor Statistics will release the August Employment report at 7:30 a.m. CDT. It is otherwise a quiet day for reports, with CFTC releasing the weekly Commitments of Traders report after the close at 2:30 p.m. CDT. As a reminder, markets are closed on Monday, September 7, for the Labor Day holiday.
WeatherA stalled front has been a focal point for showers and thunderstorms across the north all week long and continues to be on Friday as well. The strongest and most widespread showers are likely across the eastern Midwest into the Mid-Atlantic, but may develop anywhere from the Dakotas and Nebraska eastward. Another system in the Pacific Northwest will produce showers there into the Canadian Prairies Friday as well.
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