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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DTN Oil Update
ULSD futures continued to soften Thursday morning while crude oil and gasoline futures held to Wednesday's gains following the Energy Information Administration's report of across-the-board builds in U.S. oil and fuel inventories last week.
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What DTN Is Watching
There are no major economic or USDA reports scheduled for Friday, but CFTC will release another Commitments of Traders report at 2:30 p.m. CST, with futures position data as of November 18.
WeatherA clipper system that brought a band of snow through the Midwest on Thursday is dying out as it crosses into the central Appalachians and Mid-Atlantic on Friday. However, another is gathering strength across the Northern Plains with a heavy band of snow in Montana. Extremely cold air building over the Canadian Prairies will start to sweep southeast Friday as well.
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