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 the New York...
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DTN Oil Update
Oil prices settled in the mid- $90 bbl level after hitting nearly $120 bbl on Monday (3/9) as finance ministers from the Group of Seven(G7) announced plans to release emergency crude reserves to offset a disruption in supply caused by...
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DTN Oil Update
Oil prices hit almost $120 bbl on Monday as Iran installed a new supreme leader against U.S. wishes while the Middle East's busiest petroleum shipping lane remained closed, signaling no immediate end to the Tehran's war with the U.S. and...
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DTN Oil Update
Brent crude crossed $90 bbl Friday with U.S. West Texas Intermediate crude not far behind, as the Iran war neared its first week, paralyzing about a fifth of global petroleum supplies.
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DTN Oil Update
Diesel prices soared to more than three-year highs Thursday morning on the back of a rally in European gasoil futures as more refiners in Asia were forced to scale back operations and cancel product exports as the Iran war hit crude...
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DTN Oil Update
Oil prices held steady Wednesday after a two-day rally amid signs that the Middle East's petroleum trade could remain suspended longer than thought as Iran struck at its neighbors to drag them into its war with the U.S. and Israel.
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DTN Oil Update
Oil and product futures fell Thursday morning ahead of the third round of nuclear talks between the U.S. and Iran in Geneva.
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What DTN Is Watching
The headline event for Tuesday is the release of the March World Agricultural Supply and Demand Estimates (WASDE) report from USDA at 11 a.m. CDT, which will give traders an update on grain and oilseed fundamentals amid recent geopolitically driven market volatility.
WeatherA pair of storm systems are moving into the middle of the country on Tuesday. The northern portion has already brought a bit of light snow Tuesday morning and will erupt with scattered showers and thunderstorms Tuesday afternoon across the Midwest, some of which are likely to be severe, especially from Missouri into Indiana. Similarly, a system in the Southwest will move out into the Southern Plains and produce widespread showers and thunderstorms Tuesday afternoon, with some of those likely to be severe as well, especially across Texas. A band of snow will follow across the Northern Plains into the Upper Midwest and may mix with some freezing rain across Wisconsin and Michigan going into Wednesday.
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