DTN Oil Update
Crude oil futures rebounded Friday as fresh tanker attacks in the Strait of Hormuz and intensifying rhetoric between Washington and Tehran reignited geopolitical supply fears.
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DTN Oil Update
Crude and product futures remained in the red Thursday as demand downgrades from global energy agencies clashed with persistent physical supply blockades along the Strait of Hormuz.
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DTN Oil Update
The rally in oil stalled Wednesday after a four-day as weekly U.S. crude stockpiles at above three-year highs offset some of the concerns over stranded global energy shipments on the Strait of Hormuz.
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DTN Oil Update
Crude futures rebounded from their early weakness on Tuesday to rally for a fourth straight session as escalating rhetoric between the U.S. and Iran offset hopes for a resolution to the Strait of Hormuz standoff.
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DTN Oil Update
Crude futures dipped Tuesday morning following media reports that negotiations over the Strait of Hormuz between Iran and Oman have reached an advanced stage.
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DTN Oil Update
Crude futures jumped about 5% Monday as uncertainty increased over whether the United States and Iran will reach a deal to increase shipping traffic through the Strait of Hormuz, reversing some of last week's steep losses.
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DTN Oil Update
Crude futures rose Friday, but the gains were not enough to offset a second straight week of losses in a market hampered by expectations for a peace deal for the Middle East and its key energy waterway, the Strait of Hormuz.
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What DTN Is Watching
Friday looks to be a quiet trading session for reports with no major releases due during trading hours. However, after the close USDA's Economic Research Service will release their monthly commodity outlooks at 2 p.m. CDT. Then at 2:30 p.m. CDT, the CFTC will wrap up the week with the Commitments of Traders report, updating positions as of Tuesday, August 11.
WeatherA string of showers and thunderstorms is found from Nebraska into Ohio early Friday morning, which has been producing heavy rain since the overnight. A smaller system is moving into the Northern Plains, spreading some showers there into the Canadian Prairies. Both zones remain active throughout the day with some concerns for flooding and severe weather in the Midwest.
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