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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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February 7th, 2013
Heating oil rose futures to the highest level since October as seasonal refinery maintenance limits supplies. Gasoline’s March-April spread weakened a sixth day.
Heating oil climbed 0.7 percent, and the March crack spread widened $1.14 to $38.32 a barrel versus West Texas Intermediate and 36 cents to $17.43 versus Brent. March gasoline’s discount to April increased 0.9 cent to 19.14 cents a gallon. Supplies of the motor fuel in the area around New York Harbor jumped 12 percent last week, government data show.
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January 18th, 2013
Heating oil gained on forecasts for colder-than-normal weather in the U.S. Northeast next week at a time when supplies of the fuel are declining.
Heating oil futures rose as temperatures in the Northeast and eastern Canada are expected to fall 8 to 14 degrees below normal from Jan. 23 to 27, according to MDA Weather Services in Gaithersburg, Maryland. East Coast heating oil supplies fell a fifth consecutive week through Jan. 11 and are 42 percent below a year earlier, data from the U.S. Energy Information Administration show.
“Heating oil continues to be supported by cold weather in the U.S. and Europe,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
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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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December 13th, 2012
Heating oil futures gained as U.S. stockpiles of distillate fuels were at the lowest seasonal level since 2000.
Distillate inventories, including heating oil and diesel, rose 2.99 million barrels to 118.1 million last week. Stockpiles are at the lowest seasonal level since 2000.
“Distillate levels are still at the lower end of the range for this time of the year but gasoline inventories are improving,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
Heating oil for January delivery gained 0.6 cent to $2.9728 a gallon at 10:20 a.m. on the New York Mercantile Exchange.
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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 29th, 2012
Heating oil and gasoline climbed on optimism U.S. lawmakers will reach consensus on a budget deal and as two economic reports showed some gains for the economy.
Heating oil futures rose as Treasury Secretary Timothy F. Geithner arrives at the Capitol today to meet with with Congressional leaders as part of an effort to avoid automatic spending cuts and tax increases scheduled to take effect in January. U.S. jobless claims fell last week and the economy expanded more than previously estimated in the third quarter.
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November 21st, 2012
Gasoline and heating oil rose after the industry-funded American Petroleum Institute reported U.S. product inventories fell last week and as crude gained after the conflict between Israel and Hamas militants continued.
Gsoline futures climbed for the fifth time in six days after the API reported gasoline stockpiles fell 4.81 million barrels last week and heating oil supplies declined 4.4 million barrels. U.S. Secretary of State Hillary Clinton tried to broker a cease fire between Israeli and Palestinian leaders as a blast hit a bus in Tel Aviv and air strikes on Gaza continued.
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