DTN Oil Update
Crude prices reversed early losses to settle up for a fourth straight week Friday with Brent returning to above $100 a barrel (bbl) as traders remained focused on the closure of the Strait of Hormuz.
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DTN Oil Update
Crude prices dipped Friday as the U.S. temporarily lifted sanctions on Russian oil for a month to ease a global supply crunch caused by the two-week long Iran war.
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DTN Oil Update
Crude prices continued climbing on Thursday, with NYMEX West Texas Intermediate surpassing the $95 bbl mark and ICE Brent trading above $100, after two oil tankers were attacked, forcing the closure of oil terminals in the Persian Gulf...
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DTN Oil Update
Oil prices climbed again on Wednesday after a one-day retreat, as fears over Iran's mining of the already blocked Strait of Hormuz intensified safety concerns over the waterway that serves nearly a fifth of world petroleum shipments.
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DTN Oil Update
Oil and product futures rallied Wednesday morning as tanker traffic through the Strait of Hormuz remained almost completely idle amid reports of Iran deploying sea mines in the vital oil chokepoint.
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DTN Oil Update
Oil prices fell more than 12% Tuesday, deepening the retreat that began after the previous day's rally to nearly $120 bbl, as a potential de-escalation in the Iran conflict triggered a massive directional shift on both the New York Mercantile Exchange (NYMEX) and...
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DTN Oil Update
Oil prices settled in the mid- $90 bbl level after hitting nearly $120 bbl on Monday (3/9) as finance ministers from the Group of Seven(G7) announced plans to release emergency crude reserves to offset a disruption in supply caused by...
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What DTN Is Watching
Macroeconomic reports scheduled for Friday include the first revision of fourth quarter 2025 GDP at 7:30 a.m. CDT. At the same time, the Bureau of Economic Analysis will release the delayed Personal Consumption Expenditure report for January. For agriculture reports, there are no major releases scheduled but CFTC will be out with their Commitments of Traders report at 2:30 p.m. CDT, updating trader positions as of Tuesday, March 10.
WeatherA system has moved into the Great Lakes on Friday morning with strong winds continuing as well as some areas of rain and snow. The system will continue through the Northeast Friday as well, while winds diminish across the Midwest. There is not much of a break though, as the next system is moving into the Pacific Northwest with scattered showers that move as snow into the Northern Plains. This is ahead of the main action this weekend that will produce another strong storm system with heavy snow and blizzard conditions.
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