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Oil Prices Up on Stock Market Gains, Growing Demand in China
At 9:04 am EDT, the price of crude had gained 2.8 percent to reach $71.38 a barrel and the price of heating oil had risen by 2.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.06
Morning projection (for Tuesday’s average price per gallon): DOWN $0.01
The upward trend in crude and heating [...]
Oil Prices Drop as US Economy Shrinks
At 8:56 am EDT, the price of crude had slipped by 1 percent to $66.28 a barrel and the price of heating oil had lost 1.2 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.04 from yesterday at 12pm
Morning projection (for Monday’s price per gallon): DOWN $0.03
Oil prices dropped slightly [...]
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 [...]
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 [...]
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 [...]
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 [...]
NYMEX Oil Trader Predicts Lower Prices for Remainder of 2009
Many prognosticators expect the price of oil to rise over the rest of the year. This makes sense, as demand for crude will most likely rise if and when the economy picks back up.
However, NYMEX trader Ray Carbone sees it differently. On Wednesday, when interviewed on CNBC, Carbone said that he expects that oil prices [...]
Oil Prices Sink Sharply on Unemployment Numbers, Stockpile Data
The price of crude plunged 3.7 percent today to close at $66.73 a barrel and the price of heating oil fell 3.7 percent.
HEAT USA Price Report
Evening projection (for Friday’s average retail heating oil price per gallon): DOWN $0.07
Swelling stockpiles of gasoline and distillate fuel combined with big unemployment numbers to paint a gloomy picture of [...]
Oil Prices Fall on Unemployment, Stockpile Increases
At 9:07 am EDT, the price of crude had fallen by 2.9 percent to $67.31 a barrel and the price of heating oil had dropped by 2.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Friday’s/Monday’s average price per gallon): DOWN $0.05
Oil prices fell sharply this morning, driven [...]
Oil Prices Drop on Surprise Increases in Product Stockpiles
The price of crude lost 0.7 percent to close at $69.31 a barrel and the price of heating oil fell by 1 percent.
HEAT USA Price Report
Evening projection (for Thursday’s average retail price per gallon): DOWN $0.01
Crude and heating oil prices closed slightly lower today after government data showed large increases in stockpiles of US petroleum [...]
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 Down Slightly After New 2009 High
At 9:24 am EDT, the price of crude had fallen by 0.5 percent to $71.16 a barrel and the price of heating oil had lost 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.06
Morning projection (for Wednesday’s average price per gallon): DOWN $0.02
Oil prices receded from an early rally spurred [...]
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 Drop on Gasoline Inventory Build
At 9:25 am EDT, the price of crude had fallen by 0.5 percent to $68.87 a barrel and the price of heating oil had given up 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.04
Morning projection (for Thursday’s average retail price per gallon): DOWN $0.03
Data on US inventories of [...]
Oil Prices Up Slightly as Dollar Weakens
At 9:45 am EDT, the price of crude had gained 0.5 percent to reach $67.83 a barrel and the price of heating oil had risen by 0.8 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.06
Morning projection (for Wednesday’s average price per gallon): DOWN $0.01
Oil prices moved slightly higher this morning [...]
Read More »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 [...]
