DTN Oil Update
Oil prices sink as U.S.-Iran tensions ease, supply surplus looms.
Oil prices sink as U.S.-Iran tensions ease, supply surplus looms.
Oil prices continued to slide Monday morning after U.S. President Donald Trump on the weekend said he was "highly unlikely" to order new attacks on Iran .
Crude futures settled up about 3% or more on Thursday, recovering nearly a quarter of Wednesday's loss, as Middle East supplies appeared vulnerable despite potential changes to the trajectory of the Iran war from this week's U.S. midterm elections.
Crude futures rebounded Thursday after falling its most in seven months in the prior session as energy traders responded to the likelihood of oil supplies remaining vulnerable despite potential changes to the trajectory of the Iran war from this week's U.S. midterm elections.
USDA is awarding $51.9 million to 29 projects in 13 states to control feral swine populations and reduce damage to farms, ranches, livestock and natural resources.
Crude futures tumbled 8% Wednesday for its sharpest one-day loss in nearly seven months as large Democrat wins in U.S. midterm elections portended challenges to the Trump administration's war against Iran and other energy policies.
Crude futures fell for a third straight session Wednesday as traders weighed the outcome of the U.S. midterm elections that led to sweeping wins for Democrats who could pose wide-ranging challenges to the Trump administration's war against Iran and other energy policies.
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Monday will feature USDA's usual reports, including Export Inspections (for the week ending November 5) at 10 a.m. CST, and the weekly Crop Progress report at 3 p.m. CST. Otherwise, traders will likely be positioning ahead of Tuesday's Crop Production and WASDE reports.
WeatherA small disturbance continues to bring showers to Texas on Monday and may result in areas of heavy rain and some localized flooding. Otherwise, it will be dry with rising temperatures for the day.
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