DTN Oil Update
Brent crude oil futures rebounded Tuesday morning after the U.S. carried out fresh attacks on Iran despite an existing ceasefire, raising doubts that a peace deal with Iran was imminent.
Brent crude oil futures rebounded Tuesday morning after the U.S. carried out fresh attacks on Iran despite an existing ceasefire, raising doubts that a peace deal with Iran was imminent.
Oil prices steadied after a three-day decline to settle slightly higher Friday as tensions swelled again in the Middle East from U.S. opposition to Iran's plans to toll the Strait of Hormuz.
Oil futures rose Friday morning as conflicting statements from Tehran and Washington, D.C., cast doubt on the progress of peace talks aimed at ending a conflict that has led to the largest oil supply disruption in history.
Crude and product futures reversed course to settle lower Thursday as reports that the U.S. and Iran were close to a deal to reopen the Strait of Hormuz conflicted with statements by Tehran that it was not ready yet for a peace...
Oil futures rebounded Thursday morning on reports that Iran's supreme leader had issued a directive ordering that the country's enriched uranium should not be sent abroad. Storing the fissile material outside of the country has been a key U.S. demand in peace negotiations.
Crude and product futures tumbled their most in two weeks Wednesday on reports of more tanker traffic on the Strait of Hormuz as European governments were said to be in direct negotiations with Iran to secure safe passage for vessels navigating the waterway.
Oil futures extended their decline Wednesday morning on hopes of a detente in the U.S.-Iran war and of a sooner-than-expected resumption of flows from the Middle East.
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Tuesday is set to be a quiet day for reports with delayed export inspections at 10 a.m. CDT. In the afternoon, USDA will release the weekly Crop Progress report at 3 p.m. CDT, updating planting and condition ratings for U.S. crops.
WeatherAn old front remains over the southern tier of the country, producing areas of scattered showers and thunderstorms from Texas and Oklahoma through the Tennessee Valley, Delta, and Southeast for Tuesday. A little disturbance may create some stronger thunderstorms across the northern tier as well but will be more spotty.
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