DTN Oil Update
Oil futures edged down Wednesday despite Energy Information Administration data showing a third straight weekly decline in U.S. commercial crude inventories.
Oil futures edged down Wednesday despite Energy Information Administration data showing a third straight weekly decline in U.S. commercial crude inventories.
Oil futures settled higher Tuesday on expectations of tighter global as ceasefire negotiations between the United States and Iran remain in pause, with both nations exchanging accusations and oil transit through the Strait of Hormuz continuing to face disruptions.
Oil futures climbed Monday after ceasefire negotiations aimed at ending the U.S-Iran conflict failed again, with both sides dismissing each other's proposals, while disruptions to oil transit through the Strait of Hormuz continued to...
Oil futures rose on Monday as ceasefire negotiations between the United States and Iran failed again as both parties continue rejecting each other's proposals while the Strait of Hormuz remains under a naval blockade putting upward...
Oil futures climbed on Friday amid the uncertainty surrounding a peace deal between the United States and Iran after the U.S. forces reinstated strikes on tankers blocking the Strait of Hormuz.
Crude oil futures steadied Friday morning after renewed fighting between U.S. and Iranian forces halted a three-day decline fueled by prospects of an imminent peace deal and a gradual easing of the supply disruption.
Crude oil futures settled higher on Thursday, reversing an early sell-off driven by expectations of a U.S.-Iran peace deal and a potential reopening of the Strait of Hormuz.
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On Wednesday, the Bureau of Labor Statistics will release the Producer Price Index report at 7:30 a.m. CDT. The Energy Information Administration will release the weekly Petroleum Status Report at 9:30 a.m. CDT, including last week's ethanol production in the U.S. At 1 p.m. CDT, USDA will release a few follow-up reports to Tuesday's WASDE, such as updating the Feed Grains database and wheat dataset.
WeatherA small system is moving out of the Midwest and into the Northeast with some showers for Wednesday. The next system is moving through the Pacific Northwest with scattered showers that will move into the Canadian Prairies and Northern Plains throughout the day. Breezy winds will develop in the Plains ahead of the system, a concern for spreading wildfires.
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