DTN Oil Update
Crude oil futures jumped more than 9% Monday, the highest daily rise since the Middle East conflict peaked four months ago, as the U.S. announced it will reimpose a full blockade on Iranian maritime trade.
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DTN Oil Update
Oil futures rose more than 4% Monday morning after the U.S. and Iran exchanged fresh attacks over the weekend, fueling concerns over a further military escalation and a renewed supply disruption as traffic through the Strait of Hormuz slowed to multi-week lows.
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Senate Faces Tighter Vote Margins
Longtime South Carolina Republican U.S. Sen. Lindsey Graham died Sunday
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DTN Oil Update
Crude futures dropped on Friday despite escalating U.S. strikes on Iran entering their second day, while tensions over control of the Strait of Hormuz heightened concerns about additional disruptions to global oil supplies.
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DTN Oil Update
Crude futures were little changed on Friday, amid a bearish sentiment driven by renewed military action in the Middle East and over the Strait of Hormuz.
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DTN Oil Update
Crude futures fell 2% Thursday, reversing a chunk of the prior session's rally, as macroeconomic anxieties and demand destruction fears offset renewed military action in the Middle East and over the Strait of Hormuz.
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DTN Oil Update
Crude futures had their largest rally in more than a month on Wednesday as the Middle East and its most important sea lane, the Strait of Hormuz, were caught in new hostilities after the U.S. canceled its ceasefire agreement with Iran.
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What DTN Is Watching
On Tuesday at 7:30 a.m. CDT, the Bureau of Labor Statistics will release the June Consumer Price Index report, with economists expecting a cooler inflation reading compared to May as a result of the temporary ceasefire in the Middle East through June. At 2 p.m. CDT, USDA's Economic Research Service will release a series of follow-ups to last week's WASDE such as the Oil Crops, Feed, and Wheat outlooks for July.
WeatherAn extreme heatwave continues to spread across northern areas of the country on Tuesday. Widespread heat from Montana to Maine will result in some significant heat stress for developing crops, especially in the Northern Plains. A weakness across the South and Southeast will cause more showers and thunderstorms to develop throughout the day, putting a cap on the heat down there.
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