DTN Oil Update
Crude futures rose modestly Friday but still ended down for a second straight week.
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DTN Oil Update
Crude oil futures edged lower on Thursday, Nov. 6, for the third consecutive trading session on expectations of ample supplies and weak demand fundamentals.
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DTN Oil Update
Oil prices steadied Thursday morning as crude benchmarks met technical resistance levels and the U.S. Dollar Index retreated from recent highs.
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What DTN Is Watching
Reports for Friday include the release of all delayed reportable export sales which occurred throughout the government shutdown; the Foreign Agricultural Service will release them at 7:30 a.m. CST. Then at 11 a.m. CST USDA will release its November Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports, giving traders the first set of government estimates since September.
WeatherA pair of systems are in the western half of North America on Friday. One is moving through the Canadian Prairies and that will send a cold front into the Northern Plains later Friday with isolated showers and a drop in temperature. That system will continue across the north through the weekend. A second system is found just off the California Coast and is bringing some heavy rain into the state that will spread through more of the interior West this weekend. Temperatures east of these systems are quite warm and will challenge record highs until they move through.
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