DTN Oil Update
By 8:35 a.m. EDT, ICE Brent for November delivery was up $2.51 to trade near $106.83 bbl, and NYMEX WTI for November delivery rose $2.4 to $94.81 bbl.
By 8:35 a.m. EDT, ICE Brent for November delivery was up $2.51 to trade near $106.83 bbl, and NYMEX WTI for November delivery rose $2.4 to $94.81 bbl.
Oil futures closed mixed Friday (9/25) amid renewed hopes for a diplomatic breakthrough between the U.S. and Iran gained momentum.
Oil prices slid Friday morning on revived negotiations between the U.S. and Iran in New York.
Oil prices advanced for a second day Thursday (9/24) morning amid stalling progress in U.S.-Iran talks and signs that the disruption to Saudi Red Sea crude oil exports may last longer than initially expected.
Crude oil futures climbed nearly 5% Wednesday, even as Energy Information Administration (EIA) data showed a weekly increase in U.S. commercial crude inventories.
With the U.S.-Iran conflict now in its eighth month, market participants are looking for signs that renewed diplomacy could ease geopolitical risk and reopen a path toward negotiated de-escalation.
With diesel prices surging during harvest, Republican lawmakers are proposing relief measures ranging from export restrictions to direct assistance for farmers and truckers.
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On Monday, USDA will release their weekly export inspections report at 10 a.m. CDT, with data for the week ending September 24. Ater the close, the weekly Crop Progress report will be out at 3 p.m. CDT, offering a look at harvest pace around the U.S. with wet conditions noted across much of the U.S. grain belt through September.
WeatherA front is moving through the Northern Plains on Monday. Scattered showers and thunderstorms are moving through the Dakotas, which should spread into parts of Minnesota and Nebraska, especially overnight.
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