ETFS heating oil down

21/11/2008

Heating oil securities on the London Stock Exchange have fallen during trading this morning.

At 8:44 GMT, the benchmark security was trading at $19.72 (£13.25), down 1.55 per cent.

The ETFS heating oil security tracks the DJ-AIG heating oil sub-index and trades in a similar fashion to equities.

It is designed to provide clear tracking of the index of wholesale heating oil prices and provide maximum return on investment for traders.

As with other heating oil futures such as those trading on the New York Mercantile Exchange (Nymex), the ETFS heating oil security has fallen considerably since July, when it peaked above $50.

Such falling prices could soon result in falling domestic heating oil prices.

Meanwhile, crude oil also fell further during yesterday's trading, with main Nymex contract closing below $50 a barrel.

The recent falls in oil could have a wider impact on all petroleum derivatives , including heating, DERV, red diesel and residual fuels.