DTN Oil Update
WTI surges as sanctions waiver, Hormuz disruptions reshape oil markets
WTI surges as sanctions waiver, Hormuz disruptions reshape oil markets
Oil futures retreated Monday morning after rallying Friday on the back of growing Middle East supply risks as escalating fighting in the region threatened a fragile oil supply recovery.
Oil prices surge above $100 as supply fears tighten markets.
Oil prices ease as supply risks, shrinking inventories support gains.
Crude oil futures were mixed for a third consecutive trading session on Thursday, as Brent crude futures edged lower after media reports suggested the Trump administration may be considering easing sanctions on shadow fleet vessels.
Most oil futures softened Thursday morning on reports that the U.S. was considering easing sanctions on Russia, while NYMEX WTI futures bucked the trend after an American Petroleum Institute (API) report showed a hefty draw to commercial crude oil inventories.
Oil prices rise on Aramco attack, diesel shortage fears grow.
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On Monday, USDA will release their usual reports to begin the week, including Export Inspections at 10 a.m. CDT, and the weekly Crop Progress update at 3 p.m. CDT.
WeatherIt will be a rather warm and dry mid-October day on Monday. Very spotty showers may be possible in the Central Plains, but fieldwork should accelerate this week with very favorable weather.
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