DTN Oil Update
Crude futures surged 3% Monday morning after U.S. forces struck an Iranian island in the Strait of Hormuz, marking the first exchange of fire between Washington and Tehran in over a month following the end of a ceasefire.
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DTN Oil Update
Oil futures edged lower Friday, with crude benchmarks losing more than 4% on the week amid recovering tanker traffic in the Middle East. Diplomatic progress in the Persian Gulf also eroded the market's geopolitical risk premium.
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DTN Oil Update
Oil prices were mixed Friday morning, with crude benchmarks eyeing weekly declines in the 4% to 5% range, reflecting a shrinking geopolitical risk premium tied to the U.S-Iran war and rising oil flows from the Middle East.
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DTN Oil Update
Oil futures rose Thursday after a four-day slide as traders assessed signs that the six-month Iran war may be easing supply risks with more vessels transiting the Strait of Hormuz, despite Washington's efforts to isolate the Iranian...
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DTN Oil Update
Oil prices steadied following a four-day selloff Thursday morning as traders weighed easing supply risks in the Middle East against reported Russian plans of an escalation in the war against Ukraine and accumulating refinery outages from...
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DTN Oil Update
Oil futures were mixed on Wednesday after the Energy Information Administration (EIA) reported weekly declines on gasoline, diesel and jet fuel inventories, while crude stockpiles increased.
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DTN Oil Update
Crude futures extended losses Tuesday as fortified U.S. sanctions against Iran did little to lift market sentiment.
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What DTN Is Watching
On Monday, USDA will be out with their usual Export Inspections report at 10 a.m. CDT. After the close, USDA will release the weekly Crop Progress report at 3 p.m. CDT, giving another glimpse at crop conditions around the U.S. as August comes to an end.
WeatherTemperatures have increased across much of the U.S. and will be extreme in the Southern Plains and into the southwestern Corn Belt as well. Across the north, a stalling front will bring potential for areas of showers and thunderstorms. There may also be a short-lived tropical storm in the Gulf for Monday and Tuesday.
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