DTN Oil Update
Crude futures hit multi-month highs Friday, with WTI rising a third straight week and Brent the fifth week in a row, as geopolitical tension and supply vulnerability across the Middle East continued to mount.
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DTN Oil Update
Oil prices extended their advance Friday morning on growing risks to Middle Eastern oil supply amid a recent escalation in fighting in the region.
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DTN Oil Update
Oil futures surged Thursday, with both global crude benchmarks hitting above the $100 bbl mark as a fresh wave of Houthi strikes on Saudi energy assets and escalating maritime hostilities across Middle East chokepoints ignited aggressive buying.
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DTN Oil Update
Brent futures jumped to their highest since May Thursday morning following a fresh wave of Houthi attacks on Saudi Arabia.
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DTN Oil Update
U.S. crude inventories fall again as diesel reserves release pressures fuel prices.
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DTN Oil Update
Oil futures were mixed in a choppy morning session Wednesday amid uncertainty over rumored mediation efforts to end the U.S.-Iran war.
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DTN Oil Update
Oil futures reversed early gains from Tuesday that propelled the market to five-month highs, settling lower on ongoing market digestion of U.S. sanctions relief for Russian diesel.
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What DTN Is Watching
On Friday, USDA will release the October Cattle on Feed report at 2 p.m. CDT, as well as the monthly Cold Storage report at the same time. At 2:30 p.m. CDT, CFTC will release the weekly Commitments of Traders report, updating positions as of Tuesday, October 20.
WeatherA system is crossing over the Rockies and into the Northern Plains on Friday as it continues to trek northeast. Areas of scattered showers will develop around the low-pressure center, which may include some snow in Montana Friday night. Breezy winds will also occur. Outside of the Southwest, the rest of the country should remain mostly warm and dry, allowing for more fieldwork to progress.
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