DTN Oil Update
Oil futures hit two-week lows on Tuesday, Dec. 9, amid concerns about mounting Russian crude supplies offered at deeper discounts that could add to the market's oversupply.
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DTN Oil Update
Oil futures remained soft on Tuesday, Dec. 9, as the Kremlin reacted favorably to a new U.S. national security strategy that called for better relations with Russia, which faces both U.S. and European sanctions on its energy...
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DTN Oil Update
Oil futures contracts dropped 2% Monday as concerns about abundant global supply overshadowed sanctions on Russian oil.
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DTN Oil Update
ULSD, gasoline and crude oil futures contracts tumbled Monday (12/8) amid expectations of abundant global supply, as Russia works to circumvent U.S. sanctions on its oil trade.
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DTN Oil Update
Oil futures rallied Friday, Dec. 5, on news reports that the Group of Seven Countries (G7) and the European Union could ban all Western tankers from carrying Russian oil, a development that would affect near-term energy supplies.
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DTN Oil Update
ULSD futures edged higher Friday, Dec. 5, morning, supported by global supply concerns while gasoline and oil prices steadied on expectations of a Federal Reserve rate cut next week.
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DTN Oil Update
The NYMEX ULSD futures contract for January delivery reversed early losses to settle higher Thursday as crude prices were boosted by Russia's demands for a change in a U.S. peace plan for Ukraine.
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What DTN Is Watching
Market attention for Tuesday will be on the release of the December World Agricultural Supply and Demand Estimates (WASDE) report due out from USDA at 11 a.m. CST. Other macroeconomic reports include delayed job openings from October. The December FOMC meeting will also begin though the interest rate decision announcement is set for Wednesday afternoon.
WeatherA small clipper is moving through the Great Lakes with a little snow on Tuesday morning, while a stronger clipper is developing in the Northern Plains. This system will move into the Upper Midwest throughout the day. A band of heavy snow is forecast from southeast Saskatchewan through Wisconsin, which will extend across Michigan tonight. Very strong winds will wrap up behind the system, especially in the Northern Plains where gusts could exceed 60 mph. Luckily, that will not coincide with much of the snow.
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