DTN Oil Update
Oil futures slid for the third consecutive trading day Thursday as Middle Eastern producers rushed to send barrels through the now reopened Strait of Hormuz.
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DTN Oil Update
Crude oil futures extended losses Wednesday despite the largest weekly draw in U.S. crude inventories in nearly eight years, as reported by the Energy Information Administration.
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DTN Oil Update
Crude oil futures extended their decline Wednesday as traffic through the Strait of Hormuz picked up amid signs that indirect negotiations between the U.S. and Iran were progressing.
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What DTN Is Watching
Friday's session will center around the 11 a.m. CDT release of the July WASDE and Crop Production reports from USDA. After the close, CFTC will release the weekly Commitments of Traders report at 2:30 p.m. CDT.
WeatherA front that has been slowly moving through the country this week continues to sit near the southern Corn Belt on Friday. After producing some areas of heavy rain on Thursday, another day of heavy rain is expected Friday. Some areas of severe thunderstorms with wind and hail will be possible here as well. Farther north, showers are clearing out and starting to make way for a significant heatwave for this weekend.
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