DTN Oil Update
Oil declines as Middle East exports recover, despite stalled U.S.-Iran talks.
Oil declines as Middle East exports recover, despite stalled U.S.-Iran talks.
Oil prices rose slightly as Iran tensions, policy uncertainty, expirations tempered gains.
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.
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On Friday, the Bureau of Labor Statistics will release the September Employment Report at 7:30 a.m. CDT. After the close, CFTC will wrap up the week with the Commitments of Traders report at 2:30 p.m. CDT.
WeatherA front that has produced areas of heavy rain this week is pushing southeast through the Midwest and Plains on Friday, heading into zones that have yet to see much rain this week. A drier weather pattern is developing behind the front, which will help floodwaters to recede with time. For some areas, this may take a while.
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