DTN Oil Update
Oil prices extended their decline Tuesday morning, heading toward a second straight monthly and quarterly loss.
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DTN Oil Update
Oil prices fell nearly 3% Monday, Sept. 29, their biggest one-day slide since mid-July, on signs a monthly OPEC+ meeting this week will greenlight more output that could add to supply.
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DTN Oil Update
Oil prices tumbled about 2% in Monday morning trade ahead of a monthly OPEC meeting later this week where further production hike commitments were expected to add to oversupply concerns.
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What DTN Is Watching
Tuesday's originally scheduled August trade balance report from the Census Bureau is canceled due to the government shutdown. There will be a couple of speaking events with Federal Reserve governors Stephen Miran and Michelle Bowman which may be of interest to traders and investors ahead of the Fed's next interest rate decision the last week of October.
WeatherA front that lies from the Texas Panhandle to Michigan early Tuesday will continue to sweep southeast through the country. Areas of showers are found along the front, but also ahead of it in the Ohio Valley, which may produce some more heavy rain Tuesday. Much colder temperatures are found behind the front, though fairly seasonable for this time of year.
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