America's LargestPosts Tagged oil supply
Oil Prices Falling After US Employment Data
At 9:39 am EDT, the price of crude oil had lost 0.1 percent to reach $67.91 a barrel and the price of heating oil had fallen by 0.3 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): NO CHANGE
A government report released this morning showed [...]
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 [...]
Crude Down, Heating Oil Up as Inventory Report Sinks In
At 9:43 am EDT, the price of crude had fallen by 0.6 percent to $71.57 a barrel and the price of heating oil had gained 0.2 percent.
HEAT USA Price Report
Today’s average retail price per gallon: NO CHANGE (from 2 pm yesterday)
Morning projection (for Friday’s average price per gallon): UP $0.01
The effects of yesterday’s EIA inventory [...]
Read More »Oil Prices Continue Decline on Recovery Concerns
The price of crude gave up 0.3 percent today to close at $59.69 a barrel and the price heating oil dropped by 2 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail heating oil price per gallon): DOWN $0.03
The gloomy state of the world economy held oil prices down again today as a “correction” of [...]
Oil Prices Continue Slide
The price of crude fell 1.8 percent today to close at $62.93 a barrel and the price of heating oil closed 1.6 percent lower.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price per gallon): DOWN $0.02
The pattern of falling oil prices established this morning continued throughout the day to push prices to [...]
Industries Feel the Sting of Oil Price Volatility
The crude oil market has put on quite a show in the last year. Last summer, it reached record highs, topping over $145 per barrel. But just a few short months later, the price had completely bottomed out, dropping to $33 a barrel. This summer, has rebounded once again, recently reaching the $72 mark. This [...]
Read More »Oil Prices Up on Nigeria Attack and Stock Rally
The price of crude rose 3.3 percent today to close at $71.49 a barrel and the price of heating oil gained 2.9 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail price per gallon): UP $0.06
Crude and heating oil prices posted another big rally today, boosted by supply concerns stemming from a Nigerian rebel attack [...]
Nigerian Unrest Cuts into Oil Production for Fifth Consecutive Month, Shell Reports
It’s a story all too familiar: a developing nation has a plethora of natural resources; however, a confusing and violent political quagmire prevents this country from being able to gain wealth from the gifts it has been handed.
In the past, these situations were nothing more than stories on the back pages of newspapers. But in [...]
Supply Concerns Help Push Crude to New High Price for 2009
At 9:46 am EDT, the price of crude had risen 0.4 percent to $59.25 a barrel and the price of heating oil had fallen a fraction of a percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.04
Morning projection (for Wednesday’s price per gallon): UP $0.01
Oil Prices Up; Crude Closes at 6-Month High
The price of crude rose 0.6 percent to close at $58.85 a barrel and the price of heating oil closed 0.41 percent higher.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price per gallon): UP $0.01
Oil Prices Slip Back as Full Inventories and Low Demand Reassert Influence
The price of crude oil 1.2 percent to close at $53.84 a barrel and the price of heating oil closed 0.5 percent below yesterday’s close.
HEAT USA Price Report
Evening projection (for Wednesday’s average retail heating oil price per gallon): DOWN $0.01
Senator Proposes National Reserves of Refined Petroleum Products
Writing for Reuters last week, Tom Dogget reported that Senator Jeff Bingaman (D-New Mexico), chairman of the Senate Energy and Natural Resources Committee, wants the federal government to create emergency stockpiles of specific petroleum products, such as gasoline and diesel fuel, to help offset supply disruptions such as those experienced when recent hurricanes [...]
Read More »Oil Prices Jump Up on Improved Consumer Confidence
The price of crude rose 4 percent today to settle at $53.20 a barrel and the price of heating oil gained 3.5 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): UP $0.04
Canadian Tar Sands Projects Still Stalled Despite Falling Costs
The world’s biggest crude oil reserves aren’t in the Middle East – they’re across our northern border, in Alberta, Canada.
The problem is that Alberta’s crude oil isn’t trapped with water and gas under a layer of sedimentary rock. It’s in the form of tar sands, which are costlier and less efficient to produce than “conventional” [...]
Looking Backward, Analyst Finds Argument Against Coming Oil Price Shock
Last week, The HEAT Zone reported on a consensus among many oil price experts that current economic conditions are laying the foundations of an imminent oil “price shock” that could take place as soon as three months from now. Over the weekend, Morgan Stanley asset manager and Newsweek columnist Ruchir Sharma took the opposite [...]
Read More »US Refineries Shut Down for Spring Cleaning, but Prices Should Stay Steady
Every spring, after the high demand for heating oil during the winter has passed and before the high demand for gasoline during the summer driving season has started, oil refineries cut back on production to perform regular maintenance of their facilities. Typically, the reduction in refinery output in the US tightens the balance between [...]
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 »Collision of Two US Navy Vessels in Straight of Hormuz Causes Brief Spike in Oil Prices
A US submarine and US amphibious ship collided in the Straight of Hormuz, between Iran and the Arabian Peninsula today, sending oil the price of crude on a short rally before it returned to its downward track.
News of the incident reached the US in the late morning, causing the price of crude to jump $0.39 [...]
Dissenting Opinion: Crude Price Could Go Lower
In the last three weeks, a consensus among oil industry experts has emerged: the price of crude has found its “floor” at $40 a barrel. Data has shown that OPEC’s aggressive output cuts and unprecedented level of compliance with those cuts have succeeded in tightening the oil market and lifting the price of crude. [...]
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 [...]
