America's LargestPosts Tagged NYMEX
Oil Prices Edge Upward as Crude Halts Decline
As of 9:19 am EST, the price of crude had risen by .60 percent to reach $69.93 a barrel and the price of heating oil had inched up by .10 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: NO CHANGE
Morning projection (for Wednesday’s average price per gallon): Down $0.01
Oil prices are up [...]
Oil Prices Continue Slide on Stronger Dollar, New Position Limits
At 9:39 EDT, the price of crude had fallen by 0.8 percent to $68.77 a barrel and the price of heating oil was 0.3 percent lower.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.05
Morning projection (for Tuesday’s average price per gallon): DOWN $0.02
Oil prices dipped lower this morning, continuing a downward [...]
Read More »Gasoline Stockpile Data Lifts Oil Prices
At 9:06 am EDT, the price of crude had risen by 0.6 percent to $68.49 a barrel and the price of heating oil had gained 0.2 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Friday’s price per gallon): DOWN $0.01
Yesterday’s US petroleum inventory data released by the Energy [...]
Positive Economic Data from US, UK Lift Oil Prices
At 8:56 am EDT, the price of crude had gained 0.5 percent to reach $72.85 a barrel and the price of heating oil had risen by 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.02
Morning projection (for Monday’s price per gallon): UP $0.01
Crude and heating oil prices are back on [...]
Oil Prices Flat After Wednesday’s Surge
At 9:55 am EDT, the price of crude had risen by just 0.2 percent to $72.55 a barrel and the price of heating oil had fallen by 0.6 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.06
Morning projection (for Friday’s average price per gallon): DOWN $0.01
Surprisingly large reductions in crude, gasoline [...]
Oil Prices Dip on Stronger Dollar after Support from Jobs Data
At 9:48 am EDT, the price of crude had fallen by 0.7 percent to $71.47 a barrel and the price of heating oil had dropped by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Monday’s price per gallon): DOWN $0.01
Oil prices increased sharply first thing this morning [...]
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 [...]
Prediction: CFTC Will Limit Oil Speculation, and Heating Oil Prices Will Stabilize
By Josh Garrett, editor of The HEAT Zone
The Wall Street Journal reported this morning that, as part of its review of oil price volatility in recent months, the Commodities Futures Trading Commission will release a report next month that identifies speculation as the main cause of last year’s spike in oil prices.
With the CFTC hearings [...]
Amid Talk of Stricter Regulation of Oil Trades, Some Commodities Experts Defend Role of Speculators
Following the Commodities Futures Trading Commission’s announcement that it intends to tighten regulations on oil speculation, the effect of speculators on oil prices is a hot a news topic as ever.
Many have called speculators the cause of the extreme volatility of oil prices. Opponents of commodities regulation say this isn’t so, and argue that regulation [...]
Oil Traders Using UK-Based ICE to Duck US Regulations
As reported here on The HEAT Zone, Commodities Futures Trading Commission chairman Gary Gensler recently announced his agency will hold hearings to discuss potential new rules to curb rampant oil speculation. Any new regulations will affect commodities trading, but it’s unclear exactly how.
Some are guessing speculators will flee the market and will look elsewhere to [...]
Echoing Yesterday’s CFTC Announcement, Heads of France and Britain Call for Curbing Oil Speculation
In an opinion piece in today’s Wall Street Journal Gordon Brown, prime minister of the UK and Nicolas Sarkozy, president of France, called upon other world leaders, the oil industry and the international business community to take steps toward stabilizing oil prices worldwide for the common good.
Their article points out that for the past two [...]
CFTC Chairman Announces Plans to Limit Speculation on Oil and Energy Markets
The federal government is now one step closer to placing the clamps on oil speculation.
Yesterday, Commodities Futures Trading Commission chairman Gary Gensler said that his agency is considering ways to limit the amount of energy futures contracts that oil speculators can hold, the New York Times reported. The CFTC will hold hearings over the next [...]
Oil Prices Fall Sharply as Economic Pessimism Intensifies
The price of crude fell by 4 percent to $64.05 a barrel and the price of heating oil lost 4.3 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.06
The negative views of the US and world economies that drove oil prices down this morning held prices down through [...]
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 Close Lower on Nigeria Cease-Fire, Falling Stock Market
The price of crude fell 1.6 percent to $69.14 a barrel and the price of heating oil lost 2.3 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
The recent flare-up of rebel attacks on oil infrastructure in Nigeria will likely come to a close, as a 60-day cease-fire [...]
New Commodities Regulations Could Stop “Insider Trading” Practices of Big Investors
Politicians are continuing to eye commodities markets, seeking a way to regulate a marketplace that has a profound effect on the world economy.
Commodities trading is regulated by the Commodities Future Trading Commission. Many legislators have been discussing ways to tighten commodities regulations and the Obama administration is very supportive of these efforts.
The CFTC oversees commodities [...]
Carbon Credits Trading Could be Vulnerable to Speculators
The phrase “cap-and-trade” has entered our daily lexicon. How it works is simple: companies that emit carbon dioxide will have a permit limiting how many greenhouse gasses said company can emit. But since some companies and industries are more capable of efficiently limiting greenhouse gasses, this would create a surplus of permits. Companies with extra [...]
Read More »UPDATE: Heating Oil Gains Bring Midday Price Increase
MIDDAY PRICE CHANGE: Today’s average retail heating oil price per gallon: UP $0.04
HEAT USA price experts reported that a moderate increase in today’s heating oil prices went into effect at 11:30 am EDT. The retail price change followed some major gains in the price of heating oil on NYMEX.
Oil Prices Rise on Latest Rebel Attack in Nigeria
At 9:46 am EDT, the price for a barrel of crude had risen by 1 percent to $69.34 and the price of heating oil had gained 2.1 percent.
HEAT USA Price Report
Today’s retail heating oil price per gallon: DOWN $0.03
Morning projection (for Friday’s average price per gallon): UP $0.04
Nigerian rebels shut down a main Shell pipeline [...]
