DTN Oil Update
Crude prices dipped Friday as the U.S. temporarily lifted sanctions on Russian oil for a month to ease a global supply crunch caused by the two-week long Iran war.
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DTN Oil Update
Crude prices continued climbing on Thursday, with NYMEX West Texas Intermediate surpassing the $95 bbl mark and ICE Brent trading above $100, after two oil tankers were attacked, forcing the closure of oil terminals...
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DTN Oil Update
Oil prices climbed again on Wednesday after a one-day retreat, as fears over Iran's mining of the already blocked Strait of Hormuz intensified safety concerns over the waterway that serves nearly a fifth of world...
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DTN Oil Update
Oil and product futures rallied Wednesday morning as tanker traffic through the Strait of Hormuz remained almost completely idle amid reports of Iran deploying sea mines in the vital oil chokepoint.
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DTN Oil Update
Oil prices fell more than 12% Tuesday, deepening the retreat that began after the previous day's rally to nearly $120 bbl, as a potential de-escalation in the Iran conflict triggered a massive directional shift on both...
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What DTN Is Watching
The Bureau of Labor Statistics will release the February Producer Price Index report on Wednesday morning at 7:30 a.m. CDT. Later in the morning, EIA will be out with the weekly Petroleum Status report at 9:30 a.m. CDT, which will include last week's ethanol production. At 1 p.m. CDT, the Federal Reserve will announce their interest rate decision and are widely expected to hold rates steady. Fed Chair Jerome Powell will speak following the decision.
WeatherCold air in the East contrasts with record warmth building in the West. That warmth is spreading through the Plains into the Mississippi Valley on Wednesday. A little mix of rain and snow is ushering the warmer air into the Midwest, but otherwise it will be a drier day.
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