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
Oil prices fell for a third day Wednesday morning on reports that Iran and Oman made significant progress in negotiations to establish a jointly controlled shipping corridor in the Strait of Hormuz.
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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
Friday looks to be a quiet day for reports. However, Federal Reserve Chair Kevin Warsh will speak from Jackson Hole at 9 a.m. CDT, which traders and investors will surely tune in to given recent inflation concerns. After the close at 2:30 p.m. CDT, CFTC will wrap up the week with the Commitments of Traders report including position updates as of Tuesday, August 25.
WeatherA front is washing out across the far southern and eastern areas of the country on Friday, producing some areas of showers and thunderstorms. But a new system moving into the Northern Plains and Canadian Prairies will be bringing in more widespread showers and thunderstorms throughout the day. That will be the start of a much more active pattern across the northern tier heading into the first week of September.
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