DTN Oil Update
Oil futures ended broadly higher Friday, Feb. 6, reversing the previous day's tumble on continued volatility over risks related to Iran.
Oil futures ended broadly higher Friday, Feb. 6, reversing the previous day's tumble on continued volatility over risks related to Iran.
Crude to oil product futures were down Friday morning, Feb. 6, heading for their first weekly drop in seven weeks, as the start of U.S.-Iran talks pared supply risks across energy markets.
Crude and refined product futures fell nearly 3% on Thursday.
Crude oil product futures tumbled about 3% in morning trade Thursday.
Crude futures rose on Tuesday, Feb. 3, after the U.S. military shot down an Iranian drone in the Persian Gulf, reigniting tensions in the Middle East.
Oil and product futures were little changed in volatile trading Wednesday morning as energy markets continued to adjust to January's outsized rally on geopolitics and inclement weather.
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Thursday morning at 7:30 a.m. CST, USDA will release their latest Export Sales report with data for the week ending February 5. USDA will also release their monthly outlooks in the afternoon at 2 p.m. CST, with follow up details to Tuesday's WASDE on commodities such as cotton, wheat, rice, and oil crops.
WeatherIsolated rain showers are possible across Iowa Thursday as a weak warm front nudges into the area. The Plains and Southeast will be mostly dry Thursday with above-average temperatures. The next large system will begin developing across the Central and Southern Plains later Friday.
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