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Keyword: heatingoil

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  • Kasich: State of emergency for Ohio, National Guard on alert

    01/21/2014 6:28:15 AM PST · by Whenifhow · 38 replies ^ | January 20, 2014 | Staff
    CINCINNATI —Ohio Gov. John Kasich has declared a statewide energy emergency for all 88 counties. The declaration was made in order to expedite the shipment of propane and heating oil to rural parts of the state. Kasich's declaration temporarily eases regulations on shipping companies and delivery drivers. They will be allowed to drive more hours and more consecutive days than they normally would, as long as they can still do so safely, the declaration read. Those longer hours are meant to help companies make the necessary deliveries of propane and heating oil to customers, as they are needed. snip This...
  • Heating Sticker Shock (vanity)

    11/30/2011 12:04:51 PM PST · by Truth29 · 33 replies
    November 30, 2011 | Truth29
    I just paid $389.9 per gallon for home heating oil in Northern Virginia. Anyone else have a comparative price?
  • Bertha's Bolsheviks (ACORN)

    09/30/2009 7:39:07 AM PDT · by greyfoxx39 · 3 replies · 428+ views
    American Spectator ^ | September 30, 2009 | Matthew Vadum
    Why is ACORN's chief organizer friendly with the Marxist anti-American governments of two South American countries? Within ACORN CEO Bertha Lewis's storied rogues gallery of a rolodex may be found contact information for then-Bolivian ambassador Gustavo Guzman and for Sabine Kienzl, a professional propagandist employed by the Venezuelan embassy. The listing for Guzman contains what appears to have been a direct office telephone number.An ACORN insider I spoke with confirmed the authenticity of the rolodex which I have seen. Erick Erickson of the website RedState recently did an excellent job unveiling the rolodex.Both Bolivia and Venezuela are now headed...
  • Joe Gets Suckered

    01/07/2009 5:42:36 AM PST · by Kaslin · 30 replies · 1,606+ views
    IBD Editorials ^ | January 6, 2009
    Oil: Joe Kennedy was an easy mark for Venezuela's Hugo Chavez, who promised cheap oil in exchange for Joe's endorsement. But after a first $100 million, the well went dry Monday. How's it feel to be had, Joe?It seemed like easy money at the time. To get cheap oil for the poor, raise his power profile and get his Citizens Energy Corp. set for life, Kennedy made a deal with the brutal dictator in Caracas in 2005 to distribute cheap heating oil to the poor. In exchange for Venezuelan oil at a 40% discount, Kennedy would enhance Hugo Chavez's reputation...
  • Fuel Oil Contract Signers Regretful As Prices Fall

    10/20/2008 6:00:10 AM PDT · by thackney · 29 replies · 1,400+ views
    The Hartford Courant ^ | Oct 20, 2008 | LYNN DOAN
    The Rev. John L. Burton wasn't going to rely on divine intervention to keep his small church in Windham Center warm this winter. Doing his best to protect St. Paul's Episcopal Church from skyrocketing heating oil prices, he signed a contract in late summer with a local dealer to buy fuel oil at $4.67 a gallon for the coming heating season. By doing so, the congregation of 60 families committed to paying $5,000 more than last winter to heat its 175-year-old stone church. But with heating oil prices threatening to reach $5 a gallon by winter, Burton hoped to put...
  • Oil dips below $100 on demand outlook, dollar gain

    09/29/2008 5:34:37 PM PDT · by Tolerance Sucks Rocks · 25 replies · 740+ views
    One News Now ^ | September 29, 2008 | Stevenson Jacobs (Associated Press)
    Oil prices tumbled more than $6 a barrel Monday, briefly slipping below the $100 level as traders bet that global demand for petroleum products will keep falling despite a planned $700 billion U.S. financial bailout. A stronger dollar also weighed on crude prices as investors who bought oil and other commodities as a hedge against inflation sold their contracts. Light, sweet crude for November delivery fell as low as $99.80 a barrel in morning trading on the New York Mercantile Exchange before edging up slightly to $100.28, down $6.61. The contract fell Friday $1.13 to settle at $106.89. Crude has...
  • Baby, It's Going to Be Cold Inside

    08/05/2008 9:51:06 PM PDT · by FocusNexus · 28 replies · 116+ views
    New York Times ^ | Aug. 5, 2008 | JAD MOUAWAD
    In a season of roller-coaster energy costs, the drop in oil and natural gas prices in recent days was greeted as good news. But they remain so high that experts are predicting that heating bills this winter will far exceed those of last year. Even after a precipitous decline from its peak in early July, the price of natural gas is still 11 percent above where it was last winter. Heating oil is 36 percent higher, with the government projecting that the costs of both fuels will stay high. Electricity prices are also up moderately. Higher heating costs will hit...
  • Heating oil efficiency

    07/06/2008 7:15:32 AM PDT · by NRG1973 · 22 replies · 519+ views
    Bangor Daily News ^ | July 5, 2008 | BDN Staff
    Maine doesn’t have reserves of oil or gas, but that doesn’t mean steps can’t be taken to reduce residents’ heating bills. Environment Northeast, an advocacy group in New England and eastern Canada, has proposed a national efficiency program to reduce heating oil usage. Such programs exist for electricity and natural gas. Expanding the concept to heating oil, which 80 percent of Maine homes rely on, makes sense. "Energy efficiency means standing up and taking control of the situation, not sitting back to let the situation control us," Michael Stoddard, a lawyer with the group, told the Senate Small Business and...
  • DOE to Purchase Heating Oil for the Northeast Home Heating Oil Reserve (Lib states use most oil)

    06/25/2008 10:10:47 AM PDT · by rightinthemiddle · 17 replies · 316+ views
    Newsblaze ^ | June 23, 2008
    The U.S. Department of Energy (DOE) today issued a solicitation seeking to purchase heating oil for the Northeast Home Heating Oil Reserve (NEHHOR) using $3 million in appropriated funds. The Northeast Home Heating Oil Reserve provides an important safety cushion for millions of Americans residing in the Northeast region of the country. Due to the modest volume of heating oil expected to be purchased with the available funds, no impact on market prices is expected. In 2007 a 35,000 barrel sale was conducted to raise funds necessary to award new long-term storage contracts to fill NEHHOR to its authorized capacity...
  • NYMEX heatoil halted briefly after 25-cent jump

    06/06/2008 12:02:57 PM PDT · by thackney · 5 replies · 91+ views
    Reuters ^ | June 6, 2008 | Gene Ramos
    NEW YORK, June 6 (Reuters) - U.S. heating oil futures trading was halted briefly on the electronic trading platform CME Globex Friday after they struck the maximum fluctuation limit of 25 cents, a NYMEX spokeswoman said. "The trading on heating oil was halted at 1:13 p.m. EDT and resumed some three minutes or so later," said Anu Aluwahlia, the NYMEX spokeswoman. NYMEX trading on the floor was not affected, she said. Traders were confused and some said they did not even know that a trading halt had been imposed. Current rules on floor trading call for a trading halt for...
  • The heat is on

    10/19/2007 1:52:23 PM PDT · by Graybeard58 · 31 replies · 81+ views
    Waterbury Republican-American ^ | October 18, 2007 | Editorial
    The news about oil prices is uniformly bad. New England residents, who consume 82 percent of the nation's home heating oil, will pay $3.10 per gallon or more this winter, according to the National Energy Assistance Directors' Association. Maybe we'll get lucky and muddle through another mild winter. Maybe not. A decade ago, heating oil cost 20 percent that much. What happened? Governments in the oil-rich Middle East grew increasingly unstable, Venezuela became increasingly unfriendly, and developing nations such as India and China bumped up demand. Oh, and the U.S. government came up with one pretext after another for blocking...
  • I just paid $3.14 per gallon: HOME HEATING OIL

    10/16/2007 12:23:48 PM PDT · by 1Old Pro · 54 replies · 156+ views
    250 GALLON TANK = $785 That's enough for about half an upstate New York Winter. Just 8-10 years ago it was 75 cents a gallon. You can do less driving, hard to do much less heating. This will hurt retail sales in the Northeast as discretionary income will be used more and more for high fuel costs.
  • Joe Kennedy Fires Back Letter to Florida Rep. Connie Mack Over Chavez Oil TV Ad

    02/12/2007 4:12:38 PM PST · by Sub-Driver · 71 replies · 1,931+ views
    Joe Kennedy Fires Back Letter to Florida Rep. Connie Mack Over Chavez Oil TV Ad Monday , February 12, 2007 FC1 ADVERTISEMENTClick here to find out more! WASHINGTON — Former Rep. Joe Kennedy fired off a letter Monday in response to a Florida congressman's calls for him to stop airing television commercials that heap praise on Venezuela for its providing discounted heating oil to low-income U.S. households. "If your moral indignation requires that we not accept the discount oil to distribute to our most vulnerable families, then that same high moral standard should require that you not drive your car...
  • This Week In Petroleum

    01/11/2007 8:39:58 AM PST · by thackney · 7 replies · 535+ views
    Bowled Over Over the last three weeks, college football fans have been able to witness 32 different bowl games, culminating with the Bowl Championship Series Championship game in which the University of Florida defeated Ohio State University. With so many bowl games, it becomes a little difficult to analyze what they all mean. So, too, is it sometimes difficult to discern what the latest U.S. weekly petroleum data mean to the market, given the vast amount of data that are released each week. The data that receive most of the headlines when they are initially released are the changes in...
  • This Week In Petroleum

    11/30/2006 8:54:50 AM PST · by thackney · 11 replies · 375+ views
    Energy Information Administration ^ | November 29, 2006 | e
    Hot Stove Season While baseball fans in the Northeast may no longer gather around hot wood-burning stoves to warm their hands while debating the merits of trades and signings in anticipation of spring training, many are turning up the thermostat in their oil-heated homes as the temperatures dip during the nightly broadcast of SportsCenter. The Northeast, which includes New England and the Central Atlantic regions, has traditionally been the main region using heating oil as a residential heating fuel. In 2004, 5.5 billion gallons of heating oil were sold to residential consumers in the Northeast; this comprises 82 percent of...
  • Big Drop Seen in Winter Heating Bills(More Good News!)

    10/10/2006 7:26:07 AM PDT · by kellynla · 20 replies · 724+ views ^ | October 10 2006: 10:15 AM EDT | Steve Hargreaves
    NEW YORK ( -- Those not lucky enough to head south for the winter can take take solace in at least one bit of news: Winter heating bills for many Americans to be a lot lower. Bills for homes heating primarily with natural gas are expected to be about $119, or 13 percent, less this winter, the Energy Information Administration said. Special Reportfull coverage Big drop seen in winter heating bills Oil creeps above $60 EIA eyes stable oil flow, mild winter Gas tumbles, but don't get used to it EIA, the government agency that tracks energy statistics off all...
  • Oil Prices Fall Below $72 a Barrel ($71.37/bbl)

    04/27/2006 3:22:02 AM PDT · by RWR8189 · 12 replies · 634+ views
    Associated Press ^ | April 27, 2006
    SINGAPORE - Oil prices eased Thursday after U.S. government data showed motor fuel demand weakening, apparently in response to higher pump prices. The data also showed that domestic inventories of gasoline shrank for the eighth consecutive week, and that may have moderated the selling, analysts said. Light, sweet crude for June delivery fell 23 cents to $71.70 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract settled Wednesday at $71.93, down 95 cents. Brent crude for June delivery on London's ICE Futures changed hands at $72 a barrel, down 9 cents. Gasoline futures dropped 2.10...
  • Oil Prices Likely to Surge to New Record Highs

    04/11/2006 12:38:37 PM PDT · by ex-Texan · 108 replies · 2,414+ views
    Reuters ^ | 4/11/2006 | Staff Writers
    LONDON (Reuters) - An influx of fresh fund buying and geopolitical worries will most likely push oil prices to new record highs soon, analysts said on Tuesday, while the most bullish predicted prices to eventually climb to $100 (57 pounds) a barrel.Supply concerns in Nigeria, Iran and other key oil-producing countries have ignited U.S. crude prices , up 13 percent this year and within $2 of the all-time record high of $70.85, reached in late August 2005 in the wake of hurricane damage in the United States. Analysts predicted the market to rally even further as high oil prices have...
  • Crude Oil Prices Rise Above $68 a Barrel ($67.83/bbl)

    01/30/2006 2:43:18 AM PST · by RWR8189 · 9 replies · 587+ views
    Associated Press ^ | January 30, 2006
    SINGAPORE - Oil prices rose Monday on persistent supply fears tied to Iran's tense diplomatic standoff with the West over its nuclear ambitions and militant attacks in oil-rich Nigeria. Light, sweet crude for March delivery rose 53 cents to $68.29 a barrel on the New York Mercantile Exchange in Asian electronic trading. The contract on Friday rose $1.50 to settle at $67.76 a barrel. Heating oil rose 1.16 cents to $1.8185 a gallon while gasoline gained 2 cents to $1.7564 a gallon. March Brent crude on London's ICE Futures exchange rose 49 cents to $66.73 a barrel. Prices also rose...
  • Oil prices rally on threat to Nigeria supply, Iran ($64.93/bbl)

    01/17/2006 1:51:42 AM PST · by RWR8189 · 5 replies · 537+ views
    Reuters ^ | January 17, 2006 | Neil Chatterjee
    SINGAPORE (Reuters) - Oil climbed further on Tuesday as a militant threat to Nigerian oil exports and Iran's standoff with the West over its nuclear ambitions kept the market worried about supply disruptions. London Brent crude for March was up 27 cents to $63.45 a barrel by 0329 GMT, after rising 58 cents on Monday. U.S. light crude for February jumped 86 cents to $64.78 in catch-up gains after being closed for a national holiday on Monday. U.S. crude earlier touched $64.95 a barrel, its highest since October 4. Crude flows from Nigeria, the world's eighth-largest oil exporter, are being...
  • Crude Oil Futures Fall ($56.79/bbl)

    11/29/2005 2:15:33 AM PST · by RWR8189 · 18 replies · 772+ views
    Associated Press ^ | November 29, 2005 | Gillian Wong
    SINGAPORE (AP) -- Crude oil futures fell Tuesday as unseasonably mild weather along the U.S. East Coast spurred hopes that this year's Northern Hemisphere winter could be warmer than expected, weakening demand for heating fuel. Light, sweet crude for January delivery on the New York Mercantile Exchange lost 34 cents to US$57.02 a barrel in Asian electronic trading. The contract fell US$1.36 to settle at US$57.35 a barrel Monday. In London, January Brent fell 53 cents to US$54.35 per barrel on the ICE Futures exchange. In recent weeks, the market has been fixated on weather patterns in the northeastern U.S.,...
  • Crude Oil Futures Drop Below $58 a Barrel ($57.59/bbl)

    11/28/2005 3:25:31 AM PST · by RWR8189 · 7 replies · 1,563+ views
    Associated Press ^ | November 28, 2005 | GILLIAN WONG
    SINGAPORE - Oil futures fell nearly a dollar, dropping below $58 a barrel, as forecasters predicted warmer weather early this week in the U.S. Northeast, the world's largest heating oil market, easing fears of a spike in fuel demand. Light, sweet crude for January delivery slipped 86 cents to $57.85 a barrel on the New York Mercantile Exchange in electronic trading late afternoon in Singapore. In London, January Brent crude rose 29 cents to $55.30 a barrel on the ICE Futures exchange. "The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving...
  • Maine exploring discount heating oil deal with Venezuela

    11/24/2005 12:44:41 AM PST · by Crackingham · 33 replies · 1,314+ views
    Portland Press-Herald ^ | 11/23/5 | Francis X. Quinn
    One day after Venezuelan officials signed an agreement to provide 12 million gallons of discounted home heating oil to low-income Massachusetts residents, Baldacci administration officials confirmed that Maine is exploring a similar deal. Beth Nagusky, Gov. John Baldacci´s top aide on energy matters, said Wednesday that discussions are in a very early stage and declined to provide details. Nagusky said talks with Venezuela were part of Baldacci´s desire to "leave no stone unturned" in searching for ways to ensure Maine has enough fuel for the needy this winter. Venezuela, a key supplier of U.S. oil imports, produces a significant share...
  • Oil at 4-month low under $57 ($56.78/bbl)

    11/16/2005 2:33:08 AM PST · by RWR8189 · 14 replies · 727+ views
    Reuters ^ | November 16, 2005 | Paul Marriott
    SYDNEY (Reuters) - Oil dipped to a four-month low under $57 a barrel on Wednesday as dealers braced for a fresh increase in U.S. oil inventories amid unseasonally warm weather. U.S. crude fell as low as $56.82 a barrel in electronic trading, its weakest since July 21. It was trading down 2 cents at $56.96 a barrel by 0746 GMT, extending an 11-week slump that has wiped 20 percent or nearly $14 off prices. London Brent crude was down 3 cents at $55.15. Although some analysts continue to predict a turnaround once temperatures fall and if OPEC opts to cut...
  • Crude Oil Futures Slip ($57.28/bbl)

    11/15/2005 2:34:34 AM PST · by RWR8189 · 5 replies · 706+ views
    Associated Press ^ | November 15, 2005
    SINGAPORE (AP) -- Crude oil futures drifted lower Tuesday as an International Energy Agency official said high pump prices have hurt fuel demand. Light, sweet crude for December delivery fell 6 cents to US$57.63 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract Monday rose 16 cents to settle at US$57.69. In London, December Brent crude fell 8 cents to US$54.65 a barrel on the ICE Futures exchange. High oil prices have started dampening global demand and the slowdown in consumption growth could in turn push prices lower, Noe Van Hulst, the International Energy Agency's...
  • Oil Prices Up on Northeastern Forecast ($57.94/bbl)

    11/14/2005 3:19:00 AM PST · by RWR8189 · 12 replies · 860+ views
    Associated Press ^ | November 14, 2005
    SINGAPORE - Crude oil futures opened the week slightly higher, briefly rising above $58 a barrel, on predictions a cold snap was headed for the northeastern United States, the world's biggest winter heating fuel market. Light, sweet crude for December delivery rose as much as 57 cents to $58.10 a barrel in electronic trading on the New York Mercantile Exchange, before slipping to $57.78. The contract fell to $56.93 a barrel last week before closing at $57.53 Friday. December Brent crude on London's International Petroleum Exchange was 20 cents higher at $55.19 a barrel. Friday's close was the benchmark contract's...
  • Oil Prices Fall Further Below $58 ($57.12/bbl)

    11/11/2005 2:36:41 AM PST · by RWR8189 · 34 replies · 1,106+ views
    Associated Press ^ | November 11, 2005
    SINGAPORE - Crude oil futures slipped further below $58 a barrel Friday amid reports of rising supply and falling demand. Light, sweet crude for December delivery fell 9 cents to $57.71 a barrel on the New York Mercantile Exchange in electronic trading in Singapore. On Thursday, the contract fell to $57.80, the lowest level for the front-month contract since July 21. The U.S. Energy Information Administration released data that showed natural gas in storage grew more than expected last week, surpassing a level that many analysts believe is necessary to meet winter demand. The Paris-based International Energy Agency said in...
  • Oil Futures Hold Steady Below $60 a Barrel ($59.57/bbl)

    11/02/2005 3:09:11 AM PST · by RWR8189 · 21 replies · 665+ views
    Associated Press ^ | November 2, 2005 | Christopher Torchia
    SINGAPORE (AP) -- Crude oil prices held steady just below US$60 a barrel on Wednesday after predictions of warmer weather in the United States sparked a big drop two days earlier. Market experts said prospects for rising demand could keep prices at current levels. Light, sweet crude for December delivery gained 5 cent to US$59.90 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, the contract rose 9 cents to settle at $59.85 a barrel on the New York Mercantile Exchange, where a day earlier they had fallen nearly US$1.50 to a level about 15 percent...
  • Oil drops, Wilma spares Gulf ($59.70/bbl)

    10/24/2005 2:59:40 AM PDT · by RWR8189 · 18 replies · 1,044+ views
    Reuters ^ | October 24, 2005
    LONDON (Reuters) - Oil shed nearly a dollar on Monday, sinking below $60 after Hurricane Wilma bypassed storm-battered U.S. oil and gas facilities in the Gulf of Mexico. U.S. light crude fell as low as $59.56 a barrel, the lowest since July 28. It was down 93 cents by 0922 GMT to $59.70, reversing a gain of 61 cents on Friday on fears Wilma could hinder the recovery of oil operations in the Gulf. Prices were 16 percent below the record-high of $70.85 a barrel struck in late August in the wake of Hurricane Katrina. London Brent crude lost 96...
  • Oil drops $1, Wilma threat eases ($63.43/bbl)

    10/18/2005 4:47:33 AM PDT · by RWR8189 · 3 replies · 589+ views
    Reuters ^ | October 18, 2005
    LONDON (Reuters) - Oil fell $1 a barrel on Tuesday as a threatened hurricane was expected to miss rigs and refineries in the U.S. Gulf and the world's top banker said record prices were eroding demand. U.S. crude lost 98 cents to $63.38 a barrel by 1125 GMT, after a gain of 2.8 percent on Monday. London Brent crude was $1.06 down at $59.51 a barrel. Tropical Storm Wilma gained strength in the Caribbean Sea and was expected to become a full-blown hurricane, but its path was set to shift east toward Florida and away from the heart of U.S....
  • Oil up after IEA says demand resilient ($62.30/bbl)

    10/11/2005 5:03:23 AM PDT · by RWR8189 · 3 replies · 457+ views
    Reuters ^ | October 11, 2005 | Janet McBride and Peg Mackey
    LONDON (Reuters) - Oil climbed back above $62 on Tuesday after the International Energy Agency said it saw no lasting damage to demand that has pushed producers and refiners to the limit and could lead to fuel shortages this winter. There have been signs recently that persistent high prices are taking their toll on the economies of the world's big consumers. Hurricanes that battered U.S. Gulf rigs and refiners catapulted oil to new record highs, finally crimping fuel use. But the IEA, adviser to 26 industrialized nations, forecast demand growth would quicken to 1.75 million barrels per day next year...
  • Oil eases toward $62 ($62.08/bbl)

    10/06/2005 3:57:34 AM PDT · by RWR8189 · 54 replies · 882+ views
    Reuters ^ | October 6, 2005 | Jiwon Chung
    TOKYO (Reuters) - Oil prices fell for a fifth day on Thursday, dipping to their lowest level in two months after U.S. government data showed a drop in oil demand in the world's largest consumer. U.S. crude futures for November slid 19 cents to $62.60 a barrel, having earlier traded as low as $62.23. London Brent crude was down 32 cents to $59.80. Oil prices have fallen sharply from their August 30 record high of $70.85 on signs that soaring costs are eroding demand, offsetting fears over tight supplies in the wake of hurricanes that toppled production platforms and shut...
  • Oil prices drop under $64 on demand concern

    10/04/2005 1:32:49 PM PDT · by M. Espinola · 8 replies · 609+ views
    NEW YORK: Oil prices fell Tuesday for the third straight session amid signs of weakening demand and the prospect President George W. Bush's administration will tap the nation's heating oil emergency reserve. U.S. oil consumption has weakened significantly in recent weeks amid high pump prices produced in the wake of Hurricane Katrina in late August, with many drivers switching to mass transit among taking other measures. "The demand losses that have happened vastly exceed the seasonal decline," said Kyle Cooper, an analyst with Citigroup in Houston. At the New York Mercantile Exchange, crude for November ended $1.57 lower at $63.90...
  • Crude Oil Prices Slide ($64.83/bbl)

    10/04/2005 4:01:29 AM PDT · by RWR8189 · 12 replies · 629+ views
    Associated Press ^ | October 4, 2005 | GILLIAN WONG
    SINGAPORE -- Oil prices slipped Tuesday after the U.S. government indicated it might release emergency stockpiles of heating oil to combat supply disruptions from recent hurricanes. But energy futures were not expected to continue their retreat for long, analysts said, because a U.S. petroleum inventories report due later in the week was likely to show that Hurricane Rita hurt supply ahead of the coming Northern Hemisphere winter. Midmorning in Singapore, light, sweet crude for November delivery fell 16 cents to $65.31 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract fell 77 cents to settle...
  • Oil prices higher in Asia trade on US refineries output concerns - UPDATE

    09/27/2005 12:38:39 AM PDT · by M. Espinola · 8 replies · 480+ views
    Forbes ^ | 09.27.2005 | AFX News Limited
    SINGAPORE (AFX) - Oil prices were higher in early afternoon trade here on fresh concerns that US refineries, battered by Hurricanes Rita and Katrina, will not be able to meet demand in the near term, dealers said. At 12:50 pm (0450 GMT), New York's main contract, light sweet crude for delivery in November was up five cents at 65.87 usd a barrel after closing at 65.82 usd in the United States yesterday. During the morning session here the contract touched a high of 66.17 usd. Concerns are mounting that US refineries, already struggling to quench the thirst of the world's...
  • Short-Term Energy Outlook

    09/19/2005 7:12:28 PM PDT · by kellynla · 20 replies · 575+ views
    ENERGY INFORMATION ADMINISTRATION ^ | September 7th, 2005 Release | STAFF
    The possibility of energy market disruption amid this very active hurricane season turned to reality with the arrival of Katrina. In this issue, EIA examines some plausible paths to recovery. The Gulf of Mexico coast region is a major oil and natural gas supply center for the United States with significant offshore oil and natural gas production, refining capacity, and petrochemical facilities, and serves as a major import hub and nexus for pipeline infrastructure. In the Gulf coast region, Federal offshore crude oil production accounts for 1.5 million barrels per day (29 percent of total U.S. production); crude oil refining...
  • Germany Blames US for Soaring Oil Prices

    09/01/2005 3:08:36 PM PDT · by ex-Texan · 141 replies · 1,907+ views ^ | 9/1/2005 | Staff Writers
    Germany has accuses the US and "hedge" funds, which cause speculations from one country to another, for the high oil prices which now exceed $70. The US is partly responsible for the high oil prices as it has not expanded its refinery capacity for a long time, said German Economy Minister Wolfgang Clement in a statement to German radio. High oil prices were not due to the oil companies but due to the US administration's economy policy, he said, and he hopes the US administration would change its attitude and take action to increase its oil refinery capacity. Indicating that...
  • Opec output hike seen , Oil could rise to $80 per barrel:

    08/31/2005 1:11:50 AM PDT · by M. Espinola · 71 replies · 1,077+ views
    Bahrain Tribune ^ | 30/08/2005
    Opec President Shaikh Ahmad Al Fahd Al Sabah said yesterday he will propose the cartel raise its output by 500,000 barrels per day when the group meets in September in an attempt to help cool oil prices at record highs. Shaikh Ahmad, also Kuwaiti oil minister, said he will also propose a 500,000 bpd increase in the group's official output ceiling at the September 19th meeting. "We hope that the resolution to the board to increase production and the ceiling, 500,000 (bpd) and 500,000 (bpd), and to refresh the dialogue with all the main consumers, I hope this will...
  • Oil Rises on Drop in Gasoline Inventory

    08/17/2005 10:40:30 AM PDT · by M. Espinola · 21 replies · 639+ views
    AP Online via COMTEX ^ | August 17th, 2005 | Edith Balazs & En-Lai Yeoh AP
    Crude-oil futures rose Wednesday after U.S. petroleum data showed drivers' strong demand for fuel cut into gasoline supplies, although crude stocks rose. Crude oil inventories grew by 300,000 barrels last week to 321.1 million barrels, or 11 percent above year-ago levels, according to U.S. Department of Energy data released Wednesday. But the nation's supply of gasoline fell by 5 million barrels, putting inventories at 198.1 million barrels, or 12 percent below last year. Analysts had been expecting a rise in both crude and gasoline stocks. The Department of Energy said that over the past four weeks, motor gasoline demand...
  • Oil Prices Scale New Highs, OPEC Helpless & Happy! (photos)

    03/17/2005 6:46:45 AM PST · by M. Espinola · 3 replies · 606+ views
    (Reuters) ^ | Thursday, March 17th, 2005
    LONDON (Reuters) - Oil prices scaled fresh highs on Thursday, forcing OPEC to consider a second output increase just a day after its deal to raise supplies failed to halt crude's record-breaking advance. U.S. light crude broke above $57 for the first time, gaining 56 cents to $57.03 a barrel. London's Brent crude, benchmark for European imports, added 68 cents to a record $55.56 a barrel. Iranian President Mohammad Khatami (R) greets OPEC (news - web sites) President and Kuwaiti Energy Minister Sheikh Ahmad al-Fahd al-Sabah after the OPEC Conference in Isfahan in central Iran (news - web sites)...
  • Oil Tops $44, Heating Supply a Concern

    12/15/2004 12:51:09 PM PST · by RWR8189 · 9 replies · 473+ views
    Reuters ^ | December 15, 2004
    NEW YORK (Reuters) - Oil prices surged nearly 6 percent on Wednesday as the U.S. government reported a fall in heating oil stocks in the midst of the season's first arctic cold blast in the Northeast. U.S. light crude jumped $2.37 or 5.7 percent to $44.19 a barrel (CLc1: Quote, Profile, Research) in a third straight day of gains that have pushed prices up nearly $4 from four-month lows. Prices are still $11 a barrel below highs hit in late October. Brent crude (LCOc1: Quote, Profile, Research) in London rose $2.97 to $42.22 a barrel, the biggest one-day gain for...
  • Refinery Slowdowns May Push U.S. Heating-Oil Prices Higher

    10/27/2004 6:13:22 AM PDT · by OESY · 1 replies · 352+ views
    Wall Street Journal ^ | October 27, 2004 | THADDEUS HERRICK
    ...Soaring demand for crude oil and refined products has stretched world production capacity near its limit. Fears of a supply disruption have kept oil markets jittery, helping to push crude prices past $55 a barrel this month and supporting higher prices for other petroleum products from gasoline to heating oil. Industry observers don't expect an outright heating-oil shortage. Imports have been restricted this year because refiners in Europe are overhauling their plants to meet new European sulfur standards and growing demand for diesel there, but imports are expected to rise if prices climb high enough.... Still, price volatility looks increasingly...