Heating Oil Price Trend for December 15: No Change
(image: welt.de and life.com)
Cold weather in the Northeast has kept heating oil prices near even in the last few days, even as crude oil declined for eight straight days. Wintry weather in Europe, another large market for heating oil, has also encouraged some cautious optimism among heating oil traders that prices of the commodity could rise. However, large inventories remain and investors await weekly inventory reports to gauge whether or not the cold weather of the past week was enough to cause a substantial drawdown in distillate inventories, which include heating oil and diesel.
Today’s average retail heating oil price in the Northeast is unchanged from Monday’s average price.
