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Oil Prices Bounce Back in a Big Way
At 9:21 am EDT, the price of crude had gained 2.3 percent to $64.83 a barrel and the price of heating oil had increased by 2.8 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.08
Morning projection (for Friday’s average price per gallon): UP $0.06
Crude and heating oil prices plummeted yesterday after [...]
Oil Prices Fall as Crude Inventories Rise
At 8:52 am EDT, the price of crude had fallen 2.2 percent to $65.75 a barrel and the price of heating oil had lost 1 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): DOWN $0.03
Preliminary data on petroleum inventories drove down crude and [...]
Prediction: CFTC Will Limit Oil Speculation, and Heating Oil Prices Will Stabilize
By Josh Garrett, editor of The HEAT Zone
The Wall Street Journal reported this morning that, as part of its review of oil price volatility in recent months, the Commodities Futures Trading Commission will release a report next month that identifies speculation as the main cause of last year’s spike in oil prices.
With the CFTC hearings [...]
Oil Prices End Rally on Weak Economic Data, Slipping Stock Markets
At 8:54 am EDT, the price of crude had lost 0.7 percent to move to $67.91 a barrel and the price of heating oil had fallen by 0.6 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.02
Morning projection (for Wednesday’s price per gallon): DOWN $0.02
After posting nine consecutive says of gains, [...]
Oil Prices Stay Flat After Weak Corporate Earnings Reports
At 11:17 am EDT, the price of crude had risen just 0.2 percent to $68.19 a barrel and the price of heating oil had gained 0.5 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): NO CHANGE
Following a week of major gains that came [...]
Heating Oil Users: Beware of Misleading Rebate System for Energy-Efficient Heating Systems
By Josh Garrett, Editor of The HEAT Zone
To his credit, President Obama has made energy-efficiency a major priority in his agenda. Between appointing Nobel Laureate Steven Chu as Energy Secretary and repeatedly voicing support for energy efficiency and green energy advancements, he has helped lay the foundation for a US “energy revolution” in the coming [...]
Oil Prices Currently Flat, but Could Post Longest Rally of 2009
At 9:36 am EDT, the price of crude had fallen by 0.1 percent to $67.10 and the price of heating oil had gained 0.5 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.06 from yesterday and $0.14 from Monday
Morning projection (for Monday’s average price per gallon): UP $0.01
Crude and heating oil [...]
Oil Prices Close Higher on Draw on Crude Inventories
The price of crude gained 3.6 percent to close at $61.54 a barrel and the price of heating oil gained 4.8 percent.
HEAT USA Price Report
Evening projection (for Thursday’s average retail heating oil price per gallon): UP $0.07
US petroleum inventory data released by the EIA this morning showed a greater-than-expected 2.8 million barrel-decline in crude stocks, [...]
Oil Prices Bounce Back on Gasoline Stockpile Drop
At 9:26 am EDT, the price of crude had risen by 1.9 percent to reach $60.65 a barrel and the price of heating oil had gained 2.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.01
Morning projection (for Thursday’s price per gallon): UP $0.03
Oil prices rose moderately this morning, boosted by [...]
Oil Prices Erase Gains as Optimism Wears Off
The price of crude closed 0.5 percent lower today at $59.52 a barrel and the price of heating rose just 0.3 percent.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price): NO CHANGE
Stock markets held onto most of their gains today, but oil prices slipped, closing near their opening positions. Signs that the [...]
Read More »Oil Prices Rise as Global Stock Markets Rally
At 9:01 am EDT, the price of crude had gained 1.3 percent to $60.45 a barrel and the price of heating oil had gained 1.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Wednesday’s price per gallon): UP $0.01
Stock traders anticipating positive corporate earnings reports sparked a rallies [...]
Oil Prices Continue Decline on Recovery Concerns
The price of crude gave up 0.3 percent today to close at $59.69 a barrel and the price heating oil dropped by 2 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.03
The gloomy state of the world economy held oil prices down again today as a “correction” of [...]
Oil Prices Slip Again With No Economic Recovery in Sight
At 9:11 am EDT, the price of crude had fallen by 0.9 percent to $59.33 a barrel and the price of heating oil had lost 1.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Tuesday’s price per gallon): DOWN $0.02
The optimistic exuberance that helped drive crude oil prices [...]
Amid Talk of Stricter Regulation of Oil Trades, Some Commodities Experts Defend Role of Speculators
Following the Commodities Futures Trading Commission’s announcement that it intends to tighten regulations on oil speculation, the effect of speculators on oil prices is a hot a news topic as ever.
Many have called speculators the cause of the extreme volatility of oil prices. Opponents of commodities regulation say this isn’t so, and argue that regulation [...]
Oil Traders Using UK-Based ICE to Duck US Regulations
As reported here on The HEAT Zone, Commodities Futures Trading Commission chairman Gary Gensler recently announced his agency will hold hearings to discuss potential new rules to curb rampant oil speculation. Any new regulations will affect commodities trading, but it’s unclear exactly how.
Some are guessing speculators will flee the market and will look elsewhere to [...]
Oil Prices Continue Slump, Crude Below $60
At 9:27 am EDT, the price of crude had lost 2 percent to fall to $59.20 a barrel and the price of heating oil had fallen by 1.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: NO CHANGE
Morning projection (for Monday’s price per gallon): DOWN $0.02
The price of oil continued on its [...]
Oil Prices Give Back Early Gains to Close Flat
The price of crude rose by 0.3 percent to $60.32 a barrel (just an 18-cent increase) and the price of heating oil fell by 0.4 percent.
HEAT USA Price Report
Evening projection (for Friday’s average retail heating oil price per gallon): NO CHANGE
After a weak dollar and rising stock markets stimulated gains in oil prices this [...]
With Oil Prices Falling, Signs Point to Long-Term Decline
Will the recent downturn in oil prices last? Signs are pointing to yes, according to Liam Denning’s analysis that appeared in yesterday’s Wall Street Journal.
Last Tuesday, crude oil traded at slightly above $73 per barrel; on Wednesday, a barrel cost $60. In just nine days, the price of the world’s most important commodity fell [...]
Oil Prices Recover on Weaker Dollar, Stock Market Gains
At 9:05 am EDT, the price of crude had risen by 1.6 percent to $61.10 a barrel and the price of heating oil had gained 1.1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.06
Morning projection (for Friday’s average price per gallon): UP $0.01
After six straight losing days, oil prices are [...]
Oil Prices Continue Slide on Inventory Data
The price of crude fell by 4.2 percent to $60.43 a barrel and the price of heating oil gave up 3.8 percent.
HEAT USA Price Report
Evening projection (for Thursday’s average retail heating oil price per gallon): DOWN $0.06
The Energy Information Administration released data for last week’s US inventory numbers of petroleum products that reinforced perception of [...]
