America's LargestPosts Tagged OPEC
Oil Inches Up Ahead of EIA Inventory Report
As of 8:48 am EST, the price of crude had increased by 0.1 percent to reach $81.56 a barrel and the price of heating oil had risen by 0.3 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
News from OPEC and China [...]
Oil Prices Rise on Weak Dollar
As of 9:24 am EST, the price of crude had inched up by 0.1 percent to reach $74.62 a barrel and the price of heating oil had climbed by 0.3 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 $0.02
Oil prices have been [...]
Oil Prices Fall on Low Demand Expectations
As of 8:46 am EST, the price of crude had declined by .87 percent to reach $77.32 a barrel and the price of heating oil had dropped by 1.53 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 $0.04
Oil prices fell this morning [...]
Oil Prices Drop as OPEC Maintains Production Targets
As of 9:21 am EST, the price of crude had fallen by .60 percent to reach $73.28 a barrel and the price of heating oil had also declined by .60 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Wednesday’s average price per gallon): Down $0.02
Oil prices fell after [...]
Crude Oil Prices, Variable-Rate Contracts, and the Safety of Heating Oil
This article was originally published in the HEAT This Week newsletter, October 23, 2009.
The recent rise in crude oil prices has given oil companies the incentive to start drilling again and spend money looking for new sources of oil. But if companies increase production and start pumping out more crude, that would increase supply [...]
Oil Prices Down on Supply Concerns
As of 9:00 am EDT, the price of crude had fallen by .1 percent to reach $79.53 a barrel and the price of heating oil had declined by .09 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.03
Morning projection (for Wednesday’s average price per gallon): Up $0.04
The consistent rise in oil [...]
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 »Oil Prices Continue Climb on Weak Dollar; OPEC to Maintain Output Quotas
At 9:21 am EDT, the price of crude had risen by 0.7 percent to $71.62 a barrel and the price of heating oil had gained 0.9 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.06
Morning projection (for Thursday’s average price per gallon): UP $0.01
A weakening US dollar and a major buying [...]
Oil Prices Drop on Chinese Stock Market Losses
At 9:01 am EDT, the price of crude had dropped by 2.4 percent to $71.02 a barrel and the price of heating oil had lost 2.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.01
Morning projection (for Tuesday’s price per gallon): DOWN $0.03
Oil prices fell sharply this morning, as the key [...]
Oil Prices Up on Atlantic Storm Warning, Steady OPEC Output
At 9:52 am EDT, the price of crude had risen by 0.2 percent to $71.05 a barrel and the price of heating oil had gained 0.8 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Tuesday’s price per gallon): UP $0.01
Crude and heating oil prices bounced back to pare [...]
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 Recover on Weaker Dollar, Stock Market Gains
At 9:05 am EDT, the price of crude had risen by 1.6 percent to $61.10 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: DOWN $0.06
Morning projection (for Friday’s average price per gallon): UP $0.01
After six straight losing days, oil prices are [...]
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 [...]
Oil Prices Continue to Fall on OPEC Report, Regulation Talk
As of 9:46 am EDT, the price of crude oil had fallen by 1.3 percent to $62.11 a barrel and the price of heating oil had lost 1.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.02
Morning projection (for Thursday’s average retail price per gallon): DOWN $0.01
The belief that the economic [...]
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 »Iran’s Political Unrest and Oil Prices
Reuters reported this week that the election protests in Iran, the world’s fifth biggest oil exporter, have so far had little impact on global supply or prices. Markets would likely react, however, said the report, if unrest escalated and spread to the oilfields or export terminals in the country’s south, where most of the oil [...]
Read More »Russia Ends Honeymoon With OPEC
Not every oil producer thinks the same way.
Due to the worldwide recession, OPEC has decided to trim back oil production by 5 million barrels per day over the course of the past year. But Russia, another major oil producer, has done the opposite, boosting its production of oil by 6.4 percent during the same time [...]
Oil Speculators and OPEC: Temporary Allies
Usually, OPEC does not look favorably upon oil speculators. But that is now changing
The OPEC cartel enjoys the position of being the world’s most important oil producer; by deciding how much oil to produce, OPEC has significant control over the supply of the world’s crude oil, which means OPEC has significant control over the price [...]
Oil Prices Surge on OPEC Meeting and Inventory Draw
The price of crude rose 2 percent to close at $65.08 a barrel and the price of heating oil rose by 2.6 percent.
HEAT USA Price Report
Evening projection (for Friday’s average retail price per gallon): UP $0.05
Saudi Minister’s Comments Keep Oil Prices Higher
The price of crude gained 1.6 percent to close at $63.43 a barrel and the price of heating oil closed 1.1 percent higher.
HEAT USA Price Report
Evening projection (for Thursday’s average retail heating oil price per gallon): UP $0.02
