Oil Prices End Down Slightly on Stronger Dollar

The price of crude fell 0.5 percent to close at $68.09 a barrel and the price of heating oil dropped by just 0.1 percent.

HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): NO CHANGE

A US dollar rapidly gaining value against other currencies kept oil prices low today, with both crude and heating oil prices ending the day slightly below Friday’s close.  Concern over low oil demand also drove down oil prices, as traders noted weaker stock markets in the US.

HEAT USA price experts were disappointed to see a smaller-than-expected decline in heating oil prices but still expected flat or slightly lower prices to come in the next days and weeks.