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March 8th, 2013
Heating oil fell as Brent prices declined after flows increased on a North Sea pipeline that had been shut for five days.
Heating oil futures sank as much as 1 percent. Brent dropped $1.17 to $109.98 a barrel on ICE Futures Europe Exchange in London. since Dec. 26. The Brent Pipeline System is “approaching” its targeted flow rate of 80,000 barrels a day, an official for Abu Dhabi National Energy Co., or Taqa, said by phone today. The system had an unplanned halt on March 2. Heating oil’s premium to Brent grew a fourth day, gaining 48 cents to $14.47 a barrel.
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January 3rd, 2013
Heating oil slipped on a forecast for warmer weather for the U.S. Northeast, curbing household demand for the fuel.
Heating oil futures declined as much as 1.3 percent as the National Weather Service’s Climate Prediction Center estimated temperatures will be higher than normal for the Northeast from Jan. 8 through Jan. 16.
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December 27th, 2012
Heating oil advanced on forecasts for colder weather in the U.S. Northeast and for a decline in distillate inventories from the lowest seasonal level in 12 years.
Heating Oil futures rose as the National Weather Service’s Climate Prediction Center predicted below-normal temperatures in the Northeast from Jan. 1 to Jan. 9. The Energy Department will probably report tomorrow that heating oil and diesel supplies declined 1 million barrels last week to 116 million, according to the median estimate of nine analysts in a survey by Bloomberg.
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Heating oil futures drop
December 10th, 2012
Heating oil futures tumbled to a four-month low as forecasts for mild temperatures indicated weaker demand for the home heating fuel.
Heating oil fell 0.7 percent after Commodity Weather Group LLC in Bethesda, Maryland, predicted normal or warmer-than-normal weather in most of the lower-48 states through Dec. 24. The low in New York on Dec. 15 may be 40 degrees Fahrenheit (4 Celsius), 8 higher than the usual reading, according to AccuWeather Inc. in State College, Pennsylvania.
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Heating oil futures fall
December 3rd, 2012
Heating oil futures and gasoline declined as U.S. manufacturing contracted in November and amid concern that leaders in Washington will reach an impasse on budget talks.
Futures fell after the Institute for Supply Management’s factory index slid last month to the lowest level since July 2009. The U.S. is facing a so-called fiscal cliff of automatic spending cuts and tax increases. Futures gained earlier as China’s factory output reached a seven-month high.
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November 2nd, 2012
Heating oil futures and gasoline tumbled after the U.S. eased shipping requirements to increase supply to the Northeast and as terminals and pipelines returned to service after Hurricane Sandy.
The Department of Homeland Security waived the Jones Act, which requires ships moving between U.S. ports to use a U.S.- flagged vessel, increasing the tankers able to move fuel from the Gulf Coast to the East Coast. Colonial Pipeline Co. said its main line that delivers to Linden, New Jersey, and on to terminals around New York Harbor, is resuming deliveries today.
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October 30th, 2012
Heating oil futures and gasoline retreated on Tuesday on expectations that demand for fuel will be sharply depressed in the aftermath of destructive Hurricane Sandy.
At least 7.3 million homes and businesses on the U.S. East Coast were without power after Sandy came ashore in New Jersey late on Monday, tearing down power lines and flooding electrical networks.
With the November futures contract expirations approaching on Wednesday, front-month RBOB gasoline fell 6.13 cents to $2.6955 a gallon by 10:05 a.m. EDT (1405 GMT), having dropped as low as $2.6916.
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September 19th, 2012
Heating oil fell futures to the lowest level in almost a month as Brent crude, a benchmark for more than half of the world’s oil, weakened on speculation that Saudi Arabia is increasing supply.
Futures slid as Brent dropped as much as 3.1 percent, which could reduce the price of imported crude used to manufacture products. Saudi Arabia is pumping about 10 million barrels a day of crude and will produce more if customers demand it, a Persian Gulf official with knowledge of the matter said yesterday. Gasoil dropped 2.8 percent in London, reducing the incentive to ship fuel from the U.S. to Europe.
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September 5th, 2012
Heating oil futures fell as Gulf Coast refineries started up after Hurricane Isaac last week knocked out 13 percent of the region’s fuel-making capacity.
Heating oil sank to a one-week low on speculation that production will increase, rebuilding supplies that dropped as flooding, power losses and disruption of crude oil supplies shut seven refineries and reduced output at four others. Valero Energy Corp. said most production units are back online today at its two Louisiana refineries.
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September 1st, 2012
Heating Oil Futures — The governor’s energy office has released a summer survey of heating oil prices in Maine, and it’s not good news for people who heat their homes with oil.
The survey released Thursday says the average heating oil cost is currently $3.59 per gallon, a 32-cent increase from the last survey on June 25. The survey found a high of $3.80 in northern and eastern Maine and a low of $3.40 in southwestern Maine.
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