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Oil futures surged Friday with both WTI and Brent reaching their highest levels in seven days amid expectations of tighter supplies, despite increased vessel traffic through the Strait of Hormuz and a U.S.-China agreement emphasizing that the key global oil and gas shipping...
Oil futures rose more than 2% to close the week higher on Friday, driven by expectations of tighter supplies, despite increased transit through the Strait of Hormuz and an agreement between United States and China that the key global oil and gas shipping waterway must...
Oil futures settled mixed Thursday, as market participants continued monitoring the developments surrounding the U.S.-China summit and reports of improving maritime activity at the Strait of Hormuz.
Oil futures edged down for a second consecutive day on Thursday, amid the ongoing impasse in the Iran conflict and markets monitored developments surrounding the U.S.-China summit.
Oil futures edged down Wednesday despite Energy Information Administration data showing a third straight weekly decline in U.S. commercial crude inventories.
Oil futures settled higher Tuesday on expectations of tighter global as ceasefire negotiations between the United States and Iran remain in pause, with both nations exchanging accusations and oil transit through the Strait of Hormuz continuing to face disruptions.
Oil futures climbed Monday after ceasefire negotiations aimed at ending the U.S-Iran conflict failed again, with both sides dismissing each other's proposals, while disruptions to oil transit through the Strait of Hormuz continued to tighten global supplies.
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On Friday, traders will continue to watch for details emerging from the second day of meetings between President Trump and President Xi in Beijing. After the close, CFTC will wrap up the week with the Commitments of Traders report, updating positions as of Tuesday, May 12.
WeatherA stalling front is the focal point for some scattered showers and thunderstorms for the middle of the country on Friday. From southwest Kansas through Wisconsin, we should see thunderstorms developing Friday afternoon and evening. A risk of strong winds and hail are expected. Breezy winds in the Northern Plains and Canadian Prairies continue, though weaker than the past couple of days. Rain will change to snow for some in the northern Canadian Prairies.
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