America's LargestCurrently browsing:Africa
Obama Gives Nod to Importance of Ghana’s Oil Reserves in Speech
Last week, President Barack Obama delivered a well-received speech in Accra, the capital of Ghana. In his remarks, Obama discussed many issues, ranging from the importance of democracy to the tragedy of the continent’s HIV/AIDS crisis, the Canadian newspaper The Globe and Mail reported on Sunday.
Obama’s speech totaled close to 4,000 words. But it’s one [...]
Thwarted Terrorist Plot Highlights Importance of Suez Canal to Oil Trade
Since its completion in 1869, the Suez Canal has been one of the world’s most important waterways. By connecting the Red Sea to the Mediterranean, it allows ships to travel directly to Europe and beyond from the Middle East.
The Suez Canal still holds great importance today. According the U.S. Energy Information Administration, an estimated 3.9 [...]
Oil Prices Continue to Fall on OPEC Report, Regulation Talk
As of 9:46 am EDT, the price of crude oil had fallen by 1.3 percent to $62.11 a barrel and the price of heating oil had lost 1.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Thursday’s average retail price per gallon): DOWN $0.01
The belief that the economic [...]
Oil Prices Continue Losing Streak
At 9:38 am EDT, the price of crude had fallen by 0.4 percent to $63.79 a barrel and the price of heating oil had lost 0.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.07
Morning projection (for Wednesday’s price per gallon): DOWN $0.01
Oil prices rose slightly in early trading, but paired [...]
Oil Prices Sink on General Economic Concerns
At 10:31 am EDT, the price of crude had fallen by 3.6 percent to $64.35 a barrel an the price of heating oil had lost 3.2 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.07
Morning projection (for Tuesday’s price per gallon): DOWN $0.05
A stiff dose of reality administered to the oil [...]
Nigeria Extends Amnesty to MEND Rebel Leader Amid Increasing Violence
Nigeria is Africa’s biggest oil producer and the world’s eighth-largest, but a years-long struggle between rebels in the Niger Delta and the Nigerian government has seriously hampered oil production. As reported earlier this month on The HEAT Zone, the Movement for the Emancipation of the Niger Delta, better known as MEND, has launched repeated attacks [...]
Read More »Oil Prices Bounce Back on Inventory Data, Nigeria Violence
At 9:18 am EDT, the price of crude had gained 2.6 percent to climb to $71.69 a barrel and the price of heating oil had increased by 1.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Thursday’s average price per gallon): UP $0.03
Oil prices climbed back this morning, [...]
Oil Prices Up on Nigeria Attack and Stock Rally
The price of crude rose 3.3 percent today to close at $71.49 a barrel and the price of heating oil gained 2.9 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail price per gallon): UP $0.06
Crude and heating oil prices posted another big rally today, boosted by supply concerns stemming from a Nigerian rebel attack [...]
Oil Prices Up on New Attack in Nigeria
At 10:02 am EDT, the price of crude had gained 2.2 percent to reach $70.70 a barrel and the price of heating oil had risen by 2.4 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 $0.03
Despite signals that both sides would abide [...]
Oil Prices Close Lower on Nigeria Cease-Fire, Falling Stock Market
The price of crude fell 1.6 percent to $69.14 a barrel and the price of heating oil lost 2.3 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
The recent flare-up of rebel attacks on oil infrastructure in Nigeria will likely come to a close, as a 60-day cease-fire [...]
Oil Prices Drop Despite Supportive News
At 9:32 am EDT, the price of crude had lost 0.7 percent to $69.77 and the price of heating oil had dropped by 1.1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.05
Morning projection (for Monday’s average retail price per gallon): UP $0.03
Oil prices continued on an unusual and erratic [...]
Oil Prices Up on More Rebel Attacks in Nigeria
The price of crude gained 2.3 percent to close at $70.23 a barrel and the price of heating oil rose by 2.3 percent as well.
HEAT USA Price Report
Evening projection (for Friday’s average retail heating oil price per gallon): UP $0.05 from today’s opening price
MEND rebels continued attacks on oil infrastructure in the Niger Delta today, [...]
Uganda Has 2 Billion Barrels of Crude Reserves, Gov’t Reports
Uganda, like most African nations, doesn’t get a lot of press in America. Those that do know anything about the country most likely remember it from the shocking headlines from the 1970s, when military dictator Idi Amin’s regime was responsible for torturing hundreds of thousands of its citizens.
In many aspects, Uganda has emerged as one [...]
Oil Prices Rise on Latest Rebel Attack in Nigeria
At 9:46 am EDT, the price for a barrel of crude had risen by 1 percent to $69.34 and the price of heating oil had gained 2.1 percent.
HEAT USA Price Report
Today’s retail heating oil price per gallon: DOWN $0.03
Morning projection (for Friday’s average price per gallon): UP $0.04
Nigerian rebels shut down a main Shell pipeline [...]
Oil Prices Slip on Product Builds, Stronger Dollar
The price of crude lost 0.8 percent to close at $68.67 a barrel and the price of heating oil fell by 1.7 percent.
HEAT USA Price Report
Evening projection (for Thursday’s average retail heating oil price per gallon): DOWN $0.03
Oil prices ended the day slightly below yesterday’s closing positions after a volatile trading day today, pulled down [...]
Oil Prices End Higher on Weak Dollar, Nigeria Violence
The price of crude rose by 2.6 percent to close at $69.24 a barrel and the price of heating oil gained 2.4 percent.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price per gallon): UP $0.04
Oil prices ended the day moderately higher than their opening positions as the US dollar weakened and continuing [...]
Oil Prices Plunge on Grim Economic Outlook
The price of crude fell 3.8 percent to close at $66.93 a barrel and the price of heating oil lost 3.3 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.06
Oil prices fell sharply today, bringing crude to its lowest closing price in two weeks. The optimism that had [...]
Oil Prices Drop on Falling Stock Markets, Stronger Dollar
At 8:43 am EDT, the price of crude had fallen by 2.3 percent to $67.96 a barrel and the price of heating oil had lost 1.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.04
Morning projection (for Tuesday’s average retail price per gallon): DOWN $0.03
Falling stock markets in the US and [...]
Gasoline Sell-Off Pulls Down Oil Prices
The price for a barrel of crude fell 2.3 percent to close at $69.71 and the price of heating oil dropped by 2.4 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
Gasoline futures prices fell by almost seven percent today, as traders unloaded gas contracts following a major [...]
Oil Prices Rise on Nigerian Violence, Return of Economic Optimism
At 9:45 am EDT, the price of crude had gained 0.8 percent to reach $71.95 a barrel and the price of heating oil had risen by 0.8 percent as well.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Monday’s average price per gallon): UP $0.03
The MEND rebels of the [...]
