DTN Oil Update
Oil prices edged higher Wednesday morning as threats to Middle Eastern flows and tightening global fuel supplies outweighed the rebound in crude oil exports from the region.
Oil prices edged higher Wednesday morning as threats to Middle Eastern flows and tightening global fuel supplies outweighed the rebound in crude oil exports from the region.
Crude futures edged higher Tuesday after back-to-back losses in two sessions as bullish winter price outlooks from the Energy Information Administration (EIA) outweighed pressure from recovering Middle East export flows.
Oil prices slid Tuesday morning amid growing signs of higher supply, as rebounding flows from the Middle East, plans of a sizable emergency stock release and a hefty Saudi price cut all pointed to a softer market, and a reported Yemeni advance against Houthis eased supply...
G7 reserves release sinks crude and gasoline; diesel rises amid bottlenecks.
Oil prices were mixed Monday morning, with signs of Middle Eastern supply recovery and the announcement of a large-scale release from emergency reserves weighing on crude prices, while a flare-up in fighting in Yemen and continued attacks on tankers in the Strait of...
Oil futures dropped on Friday driven by expectations of increased supply after G-7 leaders agreed to coordinate the release of 100 million bbl of oil reserves to ease high international prices.
Oil futures fell Friday morning after the Elysee Palace proposed a joint EU-wide release of crude oil and diesel from strategic reserves.
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Wednesday looks to be a quiet day for reports, with the weekly Petroleum Status report out at 9:30 a.m. CDT from the Energy Information Administration. At 1 p.m. CDT, the minutes from the most recent Federal Reserve meeting will be released, giving traders and investors a glimpse into policy thoughts moving forward.
WeatherA warm and dry forecast continues for the vast majority of the country on Wednesday. Very little weather is actually occurring across the mainland U.S. outside of a few spotty showers in the Northeast and across Florida. But folks in the southeastern quadrant of the country will continue to eye the development of Tropical Storm Isaias in the Gulf of Mexico (Gulf of America) as it is likely to become a hurricane prior to landfall on late Friday night or Saturday morning in the northern Gulf.
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