DTN Oil Update
Oil and product futures were little changed in volatile trading Wednesday morning as energy markets continued to adjust to January's outsized rally on geopolitics and inclement weather.
Oil and product futures were little changed in volatile trading Wednesday morning as energy markets continued to adjust to January's outsized rally on geopolitics and inclement weather.
Oil and product futures edged higher Tuesday, Feb. 3, morning, after dropping more than 4% in the previous session as a portion of the geopolitical risk premium tied to U.S.-Iran tensions faded after both sides announced talks.
Crude oil futures fell 5% Monday while natural gas futures plunged 26% amid de-risking by investors in energy markets on reports that Iran was in talks with the U.S. to avoid war over its nuclear program.
Oil and product futures plunged around 5% Monday, Feb. 2, morning after U.S. President Donald Trump and Iranian officials announced talks between Washington and Tehran.
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The feature event for Tuesday's session will be the release of USDA's February World Agricultural Supply and Demand Estimates (WASDE) report at 11 a.m. CST, which will update both domestic and foreign commodity balance sheets.
WeatherIsolated rain showers will spread across the Southern Plains Tuesday before expanding north into the Tennessee Valley Tuesday night. Rainfall amounts could approach up to 0.5 inches in portions of Kentucky and Tennessee by early Wednesday morning.
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