DTN Oil Update
Oil prices tumbled 3% Wednesday, marking their sharpest drop in three weeks, on reports that Saudi Arabia could restore within days half of its East-West pipeline capacity jeopardized by Houthi militia attacks.
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DTN Oil Update
Oil prices fell Wednesday as Saudi ship-to-ship transfers eased supply concerns while an unexpected 7.1-million-barrel rise in U.S. crude inventories and prospects for a Federal Reserve rate hike pushed October WTI down 1.92% to $103.75 per barrel and November Brent down...
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DTN Oil Update
Crude futures extended their rally Tuesday as escalating Houthi offensive actions in Saudi Arabia raised the geopolitical risk premium across energy markets.
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DTN Oil Update
Crude futures retreated from session highs Tuesday morning, remaining largely steady since the prior session's close, as escalating Houthi offensive actions in Saudi Arabia continue to maintain a formidable geopolitical risk premium across energy markets.
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DTN Oil Update
Oil futures jumped Monday morning after drone strikes on Friday forced shut Saudi Arabia's East-West pipeline, which transported 4 million bpd of crude oil to export terminals at the Red Sea, bypassing Iran's blockade of the Strait of Hormuz.
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DTN Oil Update
Oil futures jumped Monday morning after drone strikes on Friday forced shut Saudi Arabia's East-West pipeline, which transported 4 million bpd of crude oil to export terminals at the Red Sea, bypassing Iran's blockade of the Strait of Hormuz.
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DTN Oil Update
Crude and oil products futures posted a second straight weekly gain despite a price dip Friday as elevated supply risks from expanding Middle East hostilities continued to underpin the market.
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What DTN Is Watching
On Wednesday, StatCan (Canada) will release their model-based principal field crop estimates as of August 2026 at 7:30 a.m. CDT. The Energy Information Administration will release their weekly Petroleum Status report at 9:30 a.m. CDT, including last week's ethanol production. There are no other major agricultural reports scheduled, but traders and investors will tune in for the Federal Reserve's interest rate decision at 1 p.m. CDT, which is largely expected to result in a quarter percent rate hike to the Fed's target rate.
WeatherIsolated rain showers and thunderstorms continue across the Corn Belt Wednesday as the stalled front lingers across the area. A few damaging storms are possible across the Ohio Valley. A separate system will be moving through the Northern Plains, Minnesota, and Wisconsin Wednesday and Wednesday evening, leading to spotty light rain showers. Rainfall totals with this system will likely remain below 0.5 inches.
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