America's LargestOil Prices Climb on Low Temps, Weak Dollar
As of 8:54 am EST, the price of crude had increased by 0.2 percent to reach $71.33 a barrel and the price of heating oil had risen by 0.2 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.05
Morning projection (for Tuesday’s average price per gallon): Up $0.02
The combination of cold weather, which comes on the heels of a severe snowstorm in the mid-Atlantic region, and a weak dollar has pushed oil prices higher today. The storm did not reach as far north as New England, an area more dependent on heating oil, but low temperatures are affecting most of the Eastern seaboard and lifting demand for heating oil, thereby supporting higher prices. A weak dollar has also contributed to higher crude and heating oil prices, since it makes commodities priced in dollars cheaper for investors, which also raises demand.
HEAT USA price experts report that oil prices are rebounding after sharp declines at the end of last week, but concerns about the sluggishness of the US economic recovery have moderated oil’s gains.
Oil Prices Little Changed After Jobs Report
As of 9:02 am EST, the price of crude had climbed by 0.4 percent to reach $73.44 a barrel and the price of heating oil had fallen by 0.1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.08
Morning projection (for Monday’s average price per gallon): Down $0.01
Oil prices steadied after plummeting on Thursday in response to concerns over US employment. Data released Thursday showed that unemployment claims rose more than expected, and on Friday morning the Labor Department reported that US employers cut 20,000 jobs. Friday morning’s report did not move the markets very much, since yesterday’s dramatic drop in oil prices had already presumed weak employment figures in the US. Persistent unemployment threatens any economic recovery that would in turn raise oil demand and lift prices.
HEAT USA price experts report that optimism regarding the US economy at the beginning of the week has been reversed, causing oil prices to slide. However, cold weather is forecast for the US Northeast, which could swell demand for heating oil in the coming week and increase heating oil prices.
Oil Prices Fall on Inventory Data
As of 9:02 am EST, the price of crude had dropped by 1.5 percent to reach $75.84 a barrel and the price of heating oil had fallen by 1.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Friday’s average price per gallon): Down $0.03
Oil prices slipped on Thursday morning after Wednesday’s inventory report showed that demand for oil remained low. Crude oil inventories grew by 2.3 million barrels, far more than expected, and supplies of distillates, which include heating oil and diesel, shrank less than many analysts predicted. The surprising inventory numbers indicate that the recovery in manufacturing—which caused oil prices to surge earlier in the week—has not yet led to higher oil demand. A strong dollar has further weighed on oil prices, since it drives down demand by making oil more expensive for holders of other currencies.
HEAT USA price experts report that investors are now looking toward the next release of US economic data, which comes on Friday when employment figures are released. At least until then, weak demand and the value of the dollar will likely keep oil prices down.
Oil Prices Are Flat Ahead of EIA Inventory Report
As of 9:08 am EST, the price of crude had fallen by 0.2 percent to reach $77.06 a barrel and the price of heating oil was unchanged.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.08
Morning projection (for Thursday’s average price per gallon): Up $0.03
Oil prices were little changed after earlier trading [...]
Oil Prices Rise on US Economic Data
As of 9:57 am EST, the price of crude had increased by 0.7 percent to reach $74.92 a barrel and the price of heating oil had climbed by 0.6 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.05
Morning projection (for Wednesday’s average price per gallon): Up $0.02
Oil prices continued to rally [...]
Oil Prices Rise on Weak Dollar, Attack on Nigerian Pipeline
As of 9:03 am EST, the price of crude had climbed by 0.6 percent to reach $73.31 a barrel and the price of heating oil had risen by 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Tuesday’s average price per gallon): Up $0.02
Oil prices climbed on Monday, [...]
Oil Prices Rise on US GDP Growth
As of 8:52 am EST, the price of crude had climbed by 1.4 percent to reach $74.68 a barrel and the price of heating oil had risen by 1.0 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.01
Morning projection (for Monday’s average price per gallon): Up $0.03
Oil prices spiked this morning [...]
Oil Prices Climb on Low Interest Rates, State of the Union
As of 8:56 am EST, the price of crude had risen by 0.6 percent to reach $74.09 a barrel and the price of heating oil had gained 0.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.03
Morning projection (for Friday’s average price per gallon): Up $0.02
Investors in stock markets and commodities [...]
Oil Prices Climb on API Inventory Data
As of 8:52 am EST, the price of crude had edged up by 0.1 percent to reach $74.77 a barrel and the price of heating oil had risen by 0.5 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.02
Morning projection (for Thursday’s average price per gallon): Up $0.03
Surprising inventory numbers from [...]
Oil Prices Fall as China Cuts Lending
As of 8:57 am EST, the price of crude had dropped by 1.4 percent to reach $74.24 a barrel and the price of heating oil had fallen by 1.1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.02
Morning projection (for Wednesday’s average price per gallon): Down $0.03
China’s lending restrictions were announced [...]
Oil Prices Rise on Weak Dollar
As of 9:24 am EST, the price of crude had inched up by 0.1 percent to reach $74.62 a barrel and the price of heating oil had climbed by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.04
Morning projection (for Tuesday’s average price per gallon): Up $0.02
Oil prices have been [...]
Oil Prices Drop on Low Refining Rates
As of 9:09 am EST, the price of crude had fallen by .64 percent to reach $75.89 a barrel and the price of heating oil had dropped by .58 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.03
Morning projection (for Monday’s average price per gallon): Down $0.02
Oil continued its slide from [...]
Oil Prices Edge Upward on China’s GDP, API Inventory Report
As of 8:55 am EST, the price of crude had climbed by 0.2 percent to reach $77.90 a barrel and the price of heating oil had risen by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.02
Morning projection (for Friday’s average price per gallon): Up $0.03
Two pieces of news that [...]
Oil Prices Fall as China Restricts Lending
As of 8:50 am EST, the price of crude had dropped by 1.8 percent to reach $77.58 a barrel and the price of heating oil had fallen by 1.5 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: No Change
Morning projection (for Thursday’s average price per gallon): Down $0.04
Oil prices fell as China [...]
Oil Prices Fall on Low Demand Expectations
As of 8:46 am EST, the price of crude had declined by .87 percent to reach $77.32 a barrel and the price of heating oil had dropped by 1.53 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: No Change
Morning projection (for Wednesday’s average price per gallon): Down $0.04
Oil prices fell this morning [...]
Oil Prices Rise After Weeklong Decline
As of 8:52 am EST, the price of crude had climbed by .35 percent to reach $78.27 a barrel and the price of heating oil had inched upward by .07 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.03
Morning projection (for Tuesday’s average price per gallon): Up $0.01
After falling for all [...]
Oil Prices Fall for Fifth Straight Day
As of 8:55 am EST, the price of crude had declined by .81 percent to reach $78.75 a barrel and the price of heating oil had dropped by .96 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Monday’s average price per gallon): Down $0.03
Oil prices continue to drop [...]
Oil Prices Stay Down After Builds in Inventories
As of 9:02 am EST, the price of crude had dipped by .11 percent to reach $79.56 a barrel and the price of heating oil had fallen by .54 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.04
Morning projection (for Friday’s average price per gallon): Down $0.02
Heating oil prices stayed down [...]
Oil Prices Drop as Temperatures Rise
As of 8:55 am EST, the price of crude had fallen by 1.72 percent to reach $81.10 a barrel and the price of heating oil had dropped by 1.65 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.02
Morning projection (for Wednesday’s average price per gallon): Down $0.04
Warmer weather in the US [...]
Oil Prices Rise on Chinese Oil Demand
As of 9:16 am EST, the price of crude had climbed by .54 percent to reach $83.20 a barrel and the price of heating oil had increased by .26 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.02
Morning projection (for Tuesday’s average price per gallon): Up $0.03
Record amounts of crude were [...]
