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World & Policy

Headlines

  • DTN Oil Update

    Crude futures rose Tuesday after a second attack within a week on a laden tanker in the Strait of Hormuz sent geopolitical premium for oil soaring anew. The U.S. Treasury's cancellation of a temporary 60-day sanctions waiver on Iranian oil, following the attack, also...

  • DTN Oil Update

    Crude futures were little changed to start the week on Monday, settling pre-war levels as improving short-term global supply eased market concerns, supported by increased oil tanker traffic through the Strait of Hormuz.

  • DTN Oil Update

    Crude futures fell Tuesday, finishing June lower after May's slide, as accelerating oil flows out of the Persian Gulf erased much of the Iran war risks that drove the market to four-year highs just months ago.

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What DTN Is Watching

On Wednesday, the Energy Information Administration will release the weekly Petroleum Status report at 9:30 a.m. CDT, including last week's ethanol production. Otherwise, the June Federal Reserve meeting minutes will be released at 1 p.m. CDT, offering further insight into the decision to hold rates steady last month. Finally, with hostilities increasing in the Strait of Hormuz once again, traders will be closely monitoring the situation in the Middle East, with the U.S. revoking the June waiver on Iranian oil sanctions and launching strikes on Tuesday in response to Iranian attacks on oil tankers in the Strait.

Weather

A diffuse system continues to produce isolated to scattered showers in the southeastern quadrant of the country on Wednesday. Some pockets of heavy rain will be possible, but the primary action comes from a front that is slowly moving through the country this week. For Wednesday, we should see thunderstorms developing from the Nebraska-Kansas border area into Wisconsin. Some of those storms could be severe.

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