Oil Prices End See-Saw Day Down Slightly

The price of crude lost 0.5 percent to settle at $68.44 a barrel and the price of heating oil fell 0.3 percent.

HEAT USA Price Report
Evening projection (for Monday’s areage retail heating oil price per gallon):
DOWN $0.01

After rising sharply in early trading on a positive US jobs report, oil prices fell on profit-taking before beginning to climb again, only to be driven down by a rising dollar in the afternoon.  The unemployment data added to hopes that the worst of the recession may be over, and encouraged expectations of returning oil demand in the coming weeks and months.

HEAT USA Price experts were happy to report that their prediction of rising prices was incorrect, and that retail prices will fall slightly on Monday.