America's LargestUnemployment News Holds Down Oil Prices
The reported 533,000 lost jobs last month were the most since 1974. The bad economic news led to a sharp downturn in oil prices this morning kept them down until the market’s close this afternoon. Crude fell over 5% to settle at $40.81 a barrel, the lowest in four years. Heating oil lost 5% and continued to decline in after-hours trading.
HEAT USA price experts announced a larger-than-expected drop in Monday’s retail prices.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.07
