DTN Oil Update
Oil markets hit three-week lows Wednesday, Nov. 12, driving both the global benchmarks for crude below key thresholds, following OPEC's forecast of a supply glut for the third quarter.
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DTN Oil Update
Oil futures softened Wednesday, Nov. 12, morning as a crude glut flagged by OPEC overshadowed bullish sentiment bolstered by hopes of an imminent end to a record-long U.S. government shutdown.
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DTN Oil Update
Crude futures rose 2% Tuesday, Nov. 11, buoyed by an imminent reopening of the U.S. federal government from a record-long shutdown and as Western sanctions on Russian supply forced cargo cancellations.
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DTN Oil Update
Oil prices extended their advance Tuesday, Nov. 11, morning, buoyed by a broader upswing in financial markets after the U.S. Senate passed a bill that would end the longest U.S. federal government shutdown in history.
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DTN Oil Update
Crude futures settled up Monday, Nov. 10, after two straight weeks of losses, finding support from Senate efforts to end the longest federal government shutdown in U.S. history.
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DTN Oil Update
Oil prices edged higher Monday, Nov. 10, morning, supported by a broader upswing in equities and most commodities, on signs that the longest U.S. federal government shutdown in history could soon come to an end.
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DTN Oil Update
Crude futures rose modestly Friday but still ended down for a second straight week.
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What DTN Is Watching
The normal Wednesday release of the EIA Petroleum Status report will be delayed until Thursday this week due to Veterans Day on Tuesday. As a result, it will be another quiet day for market reports on Wednesday, however the U.S. House of Representatives is expected to vote on the Senate passed funding bill to end the government shutdown, which will likely be a featured story throughout the day.
WeatherWarm air continues to spread across the U.S. on Wednesday, though folks in the Northeast won't feel all that warm as a clipper system brings some showers up that way. The rest of the country is rather quiet as we await the arrival of the next system into the West on Thursday.
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