DTN Oil Update
Crude futures ended July trading more than 20% higher Friday as renewed escalation in the Iran war increased disruption to oil and gas shipments in key Middle East waters
Crude futures ended July trading more than 20% higher Friday as renewed escalation in the Iran war increased disruption to oil and gas shipments in key Middle East waters
Oil prices advanced Friday morning, on track for a weekly decline on signs that disruptions to Red Sea oil flows were less severe than originally feared.
Crude and refined product futures fell Thursday as market participants managed front-month contract expiration pressures while engaging in profit-taking following the prior session's large gains.
Oil prices edged lower Thursday morning, holding onto most of Wednesday's jump, which came on the back of escalating fighting in the Middle East, including the return of U.S. strikes on Iran.
SECAUCUS, N.J. (DTN) -- Oil futures snapped a three-day plunge to propel Brent crude back into $90 bbl territory Wednesday (7/29) as renewed military exchanges between U.S., regional, and Iranian forces caused tensions to soar again...
Crude oil futures jumped more than 6% Wednesday morning after new Iranian and U.S. strikes ended a four-day truce which had revived hopes for a diplomatic resolution to the war.
Crude futures extended their decline for a third consecutive session Tuesday on sustained diplomatic headlines, though oil markets pulled back from session lows as friction between Iran and Oman raised fresh questions over regional...
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As July comes to a close, Friday looks to be a slow session for reports. CFTC is set to release their weekly Commitments of Traders report at 2:30 p.m. CDT. Otherwise, markets will maintain a focus on weather and the ongoing wars in the Middle East and Black Sea.
WeatherA small storm system is producing widespread showers and thunderstorms across the western Midwest Friday morning. That system will be slow to move across the Mississippi River, leading to rounds of showers and thunderstorms for areas that have been a bit too dry. Milder air is coming in behind the system as well, giving a break to areas that might not have had much precipitation in the Plains, though the cooler temperatures will only be temporary as they increase this weekend in the Northern Plains again.
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