Oklahoma's most important commodities — oil, natural gas and wheat — drive this edition of Futures File, our weekly commodities wrap-up. Oil booms on OPEC cuts After months of wrangling, the Organization of the Petroleum Exporting Countries (OPEC) announced that its members had agreed to collectively reduce oil output by 1.2 million barrels per day (-3.6 percent). This announcement, made early Wednesday morning, started the biggest one-day rally in nearly a year and rocketed prices back over $51 per barrel. Despite the market's initial reaction, some are skeptical that the individual countries will each follow through with their promise to cut; the incentive to “cheat” and produce at higher levels has frequently led to overproduction in the past.Read more on NewsOK.com

BING NEWS:
  • Winter wheat futures jump on dry weather concerns
    Wheat futures were mixed Thursday, with winter wheat mostly lower on concerns US exporters will struggle to compete with overseas suppliers, but a shortage of high-protein hard red spring wheat ...
    04/23/2024 - 1:20 am | View Link
  • Natural Gas (NG) Futures
    No, Natural gas is a hydrocarbon that surfaces with petroleum ... Everything you need to know about trading crude oil can be found here. Brief reviews on five of the best brokers.
    04/18/2024 - 1:00 pm | View Link
  • Dry days in Kansas lend support to wheat futures
    US crude oil prices were mixed Thursday, holding near three-week lows amid mixed domestic economic news, including Venezuela losing a key US license for exporting, sanctions on Iran and easing ...
    04/18/2024 - 1:00 pm | View Link
  • Exchange of Futures for Physical (EFP): Definition and Example
    Imagine an oil and gas producer is holding an inventory of one million barrels on the assumption that prices are trending up. A refiner that is worried about prices going up wants to secure ...
    04/16/2024 - 1:01 pm | View Link
  • U.S. Natural Gas Futures Little Changed in Sideways Trade
    Pressure on prices from the inventory surplus has been moderated by lower U.S. production. Natural gas for May delivery settles up 0.3% at $1.770/mmBtu, and is down 0.8% from a week ago.( ...
    04/12/2024 - 9:39 am | View Link
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