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Crude and refined product futures resumed their upward trend on Tuesday, extending the rally triggered by the escalating Middle East conflict on news that Israel killed two senior Iranian officials and Tehran retaliated with new attacks...
Crude futures rose 2% and ULSD more than 5% Tuesday morning as the supply disruption of Middle Eastern crude and oil products deepened amid new attacks launched by Iran on neighboring oil infrastructure.
Crude prices fell as much as 5% Monday after U.S. Treasury Secretary Scott Bessent said oil tankers were beginning to get through the Strait of Hormuz despite Iran's pledge to block the waterway for most of the Middle East's oil.
Crude futures dipped Monday as traders awaited the international community's response to U.S. President Donald Trump's call for a joint patrol of the Strait of Hormuz to protect tankers using the waterway to get Middle Eastern oil out...
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.
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.
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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There are no major economic or agricultural reports scheduled for Tuesday, but investors and traders will be tuned in to news regarding the ongoing conflict in the Middle East, as well as U.S.-China relations with President Trump's upcoming visit to China now likely to be postponed from its originally planned dates at the end of March/beginning of April.
WeatherA punch of arctic air has brought frosty conditions all the way down to the Gulf of America Tuesday morning. Meanwhile, warmer air is building over the West and spreading into the Plains, which will become record highs later this week. On the front edge of that warmer air, snow is developing over the Dakotas that will continue eastward into the Midwest. Just an inch or two is forecast.
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