DTN Oil Update
Crude oil futures extended losses Wednesday despite the largest weekly draw in U.S. crude inventories in nearly eight years, as reported by the Energy Information Administration.
World & Policy
Headlines
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DTN Oil Update
Crude oil futures extended their decline Wednesday as traffic through the Strait of Hormuz picked up amid signs that indirect negotiations between the U.S. and Iran were progressing.
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DTN Oil Update
Crude futures fell Tuesday, finishing June lower after May's slide, as accelerating oil flows out of the Persian Gulf erased much of the Iran war risks that drove the market to four-year highs just months ago.
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DTN Oil Update
Oil prices were little changed Tuesday morning as market participants were awaiting the next step in negotiations between Washington and Tehran.
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DTN Oil Update
Global energy markets rose Monday on signs that oil and gas shipments were being squeezed again on the Strait of Hormuz amid fresh U.S.-Iran hostilities that raised questions about the interim peace pact between the two.
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DTN Oil Update
Oil futures edged higher Monday morning but remained near four-month lows after the U.S. and Iran agreed to halt attacks following a brief flareup of hostilities over the weekend.
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DTN Oil Update
Oil futures dropped below the $70 mark to close the week on Friday, hitting a third straight weekly decline.
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What DTN Is Watching
July will begin with a relatively quiet day for reports, with the weekly Petroleum Status report out at 9:30 a.m. CDT. USDA will also release a series of crop processing updates in the afternoon at 2 p.m. CDT such as the May Oilseed Crush, Grain Crush, and Cotton Consumption reports.
WeatherA heat dome of hot and humid air continues to sit and build across the eastern half of the country. Areas of showers and thunderstorms will continue on the edge of the heat from the Central Plains into the Upper Midwest and Great Lakes for Wednesday. Some of those will be severe, especially across the Upper Midwest. Some additional showers will develop across the Delta and Southeast as the humidity becomes too much for the atmosphere to handle.
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