America's LargestPosts Tagged IEA
Oil Prices Climb on Weak Dollar, Demand Forecasts
As of 8:46 am EST, the price of crude had risen by 0.4 percent to reach $74.83 a barrel and the price of heating oil had increased by 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.01
Morning projection (for Friday’s average price per gallon): Up $0.03
EU leaders met Thursday to [...]
Oil Prices Dip on Strong Dollar
As of 9:54 am EST, the price of crude had dropped by .62 percent to reach $70.10 a barrel and the price of heating oil had edged downward by .02 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: No Change
Morning projection (for Monday’s average price per gallon): Down $0.02
After an early rally [...]
Oil Prices Sink as Big Inventories Weigh Heavy Again
At 8:55 am EDT, the price of crude had fallen by 0.4 percent to $71.63 a barrel and the price of heating oil had lost 0.6 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Monday’s price per gallon): DOWN $0.02
Oil prices dipped this morning after three straight days [...]
Oil Prices Dip as OPEC Holds Outputs Steady
At 9:49 am EDT, the price of crude had lost 0.2 percent to fall to $71.20 a barrel and the price of heating oil had fallen by 0.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.02
Morning projection (for Friday’s price per gallon): UP $0.03
Crude and heating oil prices rose in [...]
Read More »Heating Oil Prices Flat After Inventory Data and IEA Demand Forecast, Crude Oil Up Along With Stock Markets
At 11:51 am EDT the price of crude had gained 1.8 percent to reach $70.68 a barrel and the price of heating oil had fallen by 0.1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Thursday’s average price): NO CHANGE
Oil prices hovered near Tuesday’s closing positions this morning, [...]
Natural Gas Condensate Will Provide Major Boost to OPEC Oil Production
The National reported yesterday that OPEC countries are expected to add 2 million barrels per day (bpd) of liquids production capacity by the end of next year through projects to expand natural gas output. “Condensate,” as the article refers to liquids present in natural gas wells, “is almost identical to premium quality light crude oil, [...]
Read More »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 Up on New Attack in Nigeria
At 10:02 am EDT, the price of crude had gained 2.2 percent to reach $70.70 a barrel and the price of heating oil had risen by 2.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.04
Morning projection (for Tuesday’s average price per gallon): UP $0.03
Despite signals that both sides would abide [...]
Recovery Hopes Sustain Oil Rally, Crude Hits New 2009 High
The price of crude rose by 1.8 percent to close at $72.68 a barrel, it’s highest closing price since October 20, 2008. The price of heating oil gained 1 percent.
HEAT USA Price Report
Evening projection (for Friday’s average retail heating oil price per gallon): UP $0.02
Following the IEA’s upward revision of its 2009 oil demand forecast, [...]
Oil Prices Up on OPEC Statements; Crude Hits New High
At 9:47 am EDT, the price of crude had gained 0.8 percent to reach $62.94 and the price of heating oil had increased by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.02
Morning projection (for Thursday’s average price per gallon): UP $0.01
IEA: Oil Prices are Poised to Skyrocket Once Again
Yesterday, the Wall Street Journal covered a new International Energy Agency report that cautions that short term cutting of energy investment could lead to a big bounce back in oil prices within the next three years. As the recession pushed the cost of oil below 60 dollars a barrel, energy companies have pulled back or [...]
Read More »Oil Prices Fall on IEA Demand Forecast Cut
As of 9:58 am EDT this morning, the price of crude had fallen 1.2 percent to $57.34 a barrel and the price of heating oil had lost 0.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Friday’s average retail price per gallon): DOWN $0.01
Oil Prices Bounce Back as Stock Markets Rally
Oil prices posted modest gains this morning, shadowing climbing stock markets in Europe and Asia. The ripple effect from Friday’s downward revision of oil demand predictions by the IEA was keeping prices in check, but better-than-expected earnings reports from Goldman Sachs stimulated optimism that the worst of the recession may be over. Oil prices may [...]
Read More »Oil Prices Close Lower on IEA Demand Forecast Cut
The IEA’s reduced forecast for world oil demand dominated oil-related news today, keeping prices lower through the end of the trading day, leading to the biggest one-day drop in the price of crude in the last two weeks. A rally by US stock markets brought about a slight recovery in oil prices in the early [...]
Read More »Oil Prices Drop Off on IEA’s Demand Forecast
On Friday, the International Energy Agency again revised its prediction for 2009 oil demand downward, saying that global demand would fall by 2.4 million barrels per day compared to 2008. The markets reacted strongly to the IEA’s forecast this morning, outweighing data that showed an increase in Chinese crude imports last month and sending oil [...]
Read More »Oil Prices Climb on G20 Meeting, Stock Market Rallies
The meeting in London of leaders of the word’s 19 largest national economies and the European Union spurred optimism that new initiatives agreed upon at the summit would start the world economy on the road to recovery. The optimism brought about major gains in world stock markets, which in turn led to big increases in [...]
Read More »Oil Prices Inch Upward as OPEC Meeting Approaches
The oil markets’ focus on OPEC’s meeting on Sunday continued to intensify this morning, pushing prices slightly upward in anticipation of further compliance with existing output cuts and/or additional cuts. The price for a barrel of crude had gained 0.7 percent to reach $47.38 and the price of heating oil had risen 0.6 percent at [...]
Read More »IEA and OPEC Spar Over Future Oil Prices, Production Expansion
OPEC spokesman Abdullah al-Badri criticized comments made yesterday by the International Energy Agency’s Nobuo Tanaka as “confusing and misleading,” Guardian.co.UK reports.
Mr. Tanaka had warned that more oil price spikes like those seen last summer could occur by 2013 if more oil producers do not increase their investment in oil production and expand output. With current [...]
Lack of Investment in Oil Projects Threatens Future Shortages and Price Spikes
Yesterday, the Executive Director of the International Energy Agency Nobuo Tanaka warned of a different kind of economic crisis: “Currently the [oil] demand is very low due to the very bad economic situation, but when the economy starts growing, recovery comes again in 2010 and then onward, we may have another serious supply crunch if [...]
Read More »OPEC Lowers 2009 Demand Forecast Again, More Production Cuts Are Likely
OPEC has once again lowered its prediction of world oil demand in 2009. The adjustment shows a dramatic reduction in demand expectations, predicting a demand decrease of 580,000 barrels per day (bpd), a much larger decline than the previously predicted 180,000 bpd. From Reuters: “’World oil demand continues its steep decline from last year and [...]
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