America's LargestPosts Tagged Energy Information Adminstration
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 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 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 Climb on Expectations of Inventory Drop
At 9:14 am EDT, the price of crude had gained 1.5 percent to reach $71.06 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: UP $0.04
Morning projection (for Thursday’s average price per gallon): UP $0.04
Oil prices rose again this morning on perceptions [...]
Oil Prices Split as Inventory Builds Weigh Down and Stock Rally Lifts Up
The price of crude rose and the price of heating oil fell on NYMEX today, as news of yet another increase in US petroleum inventories came from the EIA and a rising stock market provided a boost of economic optimism. The EIA’s weekly inventory report showed that “is using less petroleum than it has in [...]
Read More »Oil Analysts are Closely Watching OPEC
Since their meeting on March 15, OPEC has been receiving a lot of watchful attention from the EIA and other oil market analysts. These forecasters are monitoring the organization in an effort to learn how OPEC is going to adapt to a lower global demand for oil as well as how they are going to [...]
Read More »Oil Prices Swing Upward With Stock Markets
Oil prices rose this morning, taking a cue from rallying stock markets in the US and Asia. The weak state of the US dollar also contributed to higher oil prices. Once again, oil prices have moved upward while technical forces are strongly bearish. Yesterday’s EIA inventory numbers showed another large build in crude inventories, sending [...]
Read More »EIA: Retail Heating Oil Prices Still Falling, but More Slowly
From today’s issue of the Energy Information Administration’s weekly report on crude oil and related products, This Week in Petroleum:
Residential heating oil prices dipped lower during the period ending March 2, 2009, marking their seventh consecutive week of falling. The average residential heating oil price decreased 1.3 cents per gallon last week to reach 222.0 [...]
Huge Jump in Oil Inventories Pushes Prices Down
MarketWatch.com reported today on the weekly inventory data released by the EIA that showed big increases in all three petroleum categories. Distillate inventories, including heating oil and diesel, rose 6.4 million barrels last week, far surpassing the 1.7 million barrel increase predicted by analysts at Platts. Gasoline and crude inventories were also up more than [...]
Read More »Oil Prices Finish Up Slightly on Saudi Production Cuts and Cold Weather in Northeast
Announcements of major production cuts and unusually cold weather predictions outweighed persistent demand concerns stemming from the worldwide economic slowdown, making for increases in crude and heating oil prices on NYMEX. Crude gained $0.19 today, settling at $39.50 a barrel at market’s close. Heating oil rose 3.3% an investors anticipated increased demand later this week, [...]
Read More »Heating Oil Up Slightly, Crude Oil Down as Losing Year Comes to an End
The price of crude fell 2.5% this morning to $38.14 a barrel while the price of heating oil gained two-tenths of a percent as of 9:51 am eastern time on the last day of the 2008 calendar year. Investors looking back at the last year on the oil market had reason for pessimism, as the [...]
Read More »Oil Prices Plunge on Economic Slump and Still-Shrinking Demand
With yesterday’s OPEC production cuts already a distant memory, the market price of crude and heating oil dropped far and fast in late trading today. Crude oil lost nearly 10% to close at $36.22 a barrel, and heating oil fell by almost 4%.
All-around gloomy economic news precipitated the drops, directly and indirectly indicating that oil [...]
OPEC Cut Has Opposite of Desired Effect: Oil Prices Plummet
Oil prices plunged today, moving in the opposite direction intended by OPEC when it announced a new production cut of 2.2 barrels per day, effective January 1st. Although the cut was the largest ever implemented by the cartel, and slightly deeper than the 2 million bpd cut analysts expected, the market at large viewed the [...]
Read More »Oil Prices Up and Down in Anticipation of OPEC Production Cut
Crude and heating oil prices fluctuated this morning and were near their opening prices as of 10:03 am eastern time; crude oil had risen half a percent to $43.62 a barrel, and heating oil had gained almost three percent.
Saudi Arabia’s oil minister Ali Naimi set expectations on Wednesday of a 2 million barrel per day [...]
Oil Prices Fall on Reduced Demand Predictions
The Energy Information Administration released new data today, reducing predictions for global oil demand by 50,000 barrels per day in 2008 and 450,000 barrels per day in 2009. The EIA also forecast lower gross domestic product growth for 2008 and 2009.
The negative economic news of the day appeared to dominated the markets, dragging down stock [...]
