DTN Oil Update
Crude and oil product futures held steady on Friday morning while eyeing a second straight weekly loss on trade expectations for a peace deal for the Middle East and its key energy waterway, the Strait of Hormuz.
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DTN Oil Update
Crude and refined product futures rose 3% or more Thursday on media reports that U.S. and Israeli commercial ships will likely be blocked from using the Strait of Hormuz under an emerging Iran-Oman plan for control...
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DTN Oil Update
Crude and refined product futures were up 1% or more Thursday on reports that Iran had threatened to strike Gulf states hard unless they could convince the U.S. to end its war on Tehran.
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What DTN Is Watching
Friday looks to be a quiet trading session for reports with no major releases due during trading hours. However, after the close USDA's Economic Research Service will release their monthly commodity outlooks at 2 p.m. CDT. Then at 2:30 p.m. CDT, the CFTC will wrap up the week with the Commitments of Traders report, updating positions as of Tuesday, August 11.
WeatherA string of showers and thunderstorms is found from Nebraska into Ohio early Friday morning, which has been producing heavy rain since the overnight. A smaller system is moving into the Northern Plains, spreading some showers there into the Canadian Prairies. Both zones remain active throughout the day with some concerns for flooding and severe weather in the Midwest.
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