DTN Oil Update
Oil prices rise on Aramco attack, diesel shortage fears grow.
Oil prices rise on Aramco attack, diesel shortage fears grow.
Oil Prices Mixed as Middle East Tensions, Diesel Shortage Risks Grow
Oil mixed: Middle East tensions support prices; weaker demand outlook weighs.
Oil futures retreated Tuesday morning after a three-day rally that came on the back of escalating fighting in the Middle East.
Oil crude futures climbed nearly 2% on Monday in response to attacks on Saudi Arabian infrastructure over the weekend.
Crude oil futures rose Monday morning after Houthi strikes on Saudi infrastructure over the weekend added to concerns over the stability and longevity of the current Middle Eastern oil supply recovery.
Crude oil futures edged down to close the week on Friday, while ultra-low sulfur diesel (ULSD) futures dropped over 4% after U.S. President Donald Trump announced an energy deal with Russian President Vladimir Putin to supply 300,000 tons of diesel to the United States...
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On Wednesday, the Bureau of Labor Statistics will start things off with the September Consumer Price Index report at 7:30 a.m. CDT, giving traders a look into recent inflation in the U.S. At 2 p.m. CDT, USDA's Economic Research Service will release their monthly commodity outlooks for feed grains, oil crops, wheat, as well as others.
WeatherA cold front stretches from the Texas Panhandle into the Midwest where scattered showers and thunderstorms will be ongoing throughout the day Wednesday. A system in the Southwest will move into the Plains, spreading more precipitation throughout the region as well.
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