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Heating Oil Price Trend for January 4: +1¢

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Posted by Michael Hoven on January 4, 2010 at 10:04 am


(image: absencesix via flickr.com and heatusa.com)

(image: absencesix via flickr.com and heatusa.com)

Cold weather kept heating oil prices on the rise, as low temperatures throughout the US Northeast point to growing heating oil demand. Distillate inventories, which include heating oil and diesel, have dropped for six weeks in a row as winter has set in. These cuts in inventories have boosted heating oil prices in recent weeks, even though stockpiles of distillates still remain well above average. Heating oil’s surge on NYMEX has supported higher crude oil prices, as well, as the price of crude oil closed out the year 71 percent higher than it had started.

Today’s average retail heating oil price in the Northeast is 1 cent higher than Thursday’s average price.


This article was posted on Monday, January 4, 2010 at 10:04 am and is filed under Blog, crude oil prices, heating oil consumption, heating oil price trends, heating oil prices, weather

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One Response to “Heating Oil Price Trend for January 4: +1¢”

  1. January 8, 2010 at 2:45 pm
    Kuwait Drops Oil Price as Asian Refiners Cut Production | HeatingOil.com says: says:

    [...] the US, however low demand hasn’t necessarily meant lower prices. Oil prices climbed in 2009 despite paltry demand, supported by speculation and [...]

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