No change for heating oil

30/01/2009

There has been no change to the price of heating oil during trading on the New York Mercantile Exchange this morning (January 30th).

Heating oil for February delivery remained at $1.4283 (£1) a gallon at 10:35 GMT, although there was a fractional downward trend in heating oil contracts with later expiry dates.

Prices for heating oil for delivery in March, April and June also fell marginally, May an...

read more

Oil continues to fall despite early gains

30/01/2009

Oil prices have continued to slide during trading this morning (January 30th) despite a small early rally.

Crude for March delivery sold on the New York Mercantile Exchange dropped a further 23 cents, taking the commodity to $41.21 (£28.83) a barrel by 10:26 GMT.

The price drops witnessed this week have also had an effect on wholesale heating oil prices, while read more

Oil steady around $41

29/01/2009

Oil prices have stayed relatively flat during this morning's (January 29th) trading, after gaining marginally yesterday.

The main contract on the New York Mercantile Exchange - light, sweet crude for March deliver - retreated to $41.61 (£29.26) a barrel by 10:21GMT, down 55 cents on its opening price.

At the close of trading yesterday, the commodity had gained 58 cents, closing at $42.11 a barrel.

If this stability continues, the price of read more

Heating oil down 6c

29/01/2009

Heating oil has fallen six cents this morning (January 29th), mimicking falls witnessed in crude prices.

By 10:30, heating oil was trading at $1.4151(99.48p) a gallon on the New York Mercantile Exchange as crude slipped below the $42-a-barrel mark.

Falls follow the publication of new data from the Energy Information Adminstration which showed that stockpiles of crude and derivatives such as heating oil ...

read more

Oil steady after $4 slide

28/01/2009

Oil prices have remained stable during trading so far this morning (January 28th) after the commodity fell more than $4 (£2.80) yesterday.

The New York Mercantile Exchange's main contract - light, sweet crude for March delivery - had fallen nine cents by 11:00 GMT and was trading at $41.51 a barrel.

Yesterday's nine per cent slide came as new figures showed that consumer confidence in the US has hit a record low this month, while housing figures also showed an 18 per cent ...

read more

Heating oil stable at $1.38

28/01/2009

Wholesale heating oil prices have held steady around $1.38 (97p) a gallon mark during trading this morning (January 28th).

On the New York Mercantile Exchange, heating oil prices had risen by a sixth of a cent to $ 1.3814 a gallon by 11:07 GMT, having earlier reached a high of $1.3970.

The fractional gains reverse losses witnessed in both

read more

Job fears follow oil price slide

27/01/2009

The news that many major oil firms are reviewing their operations in the North Sea has sparked fears about job losses in Aberdeen.

Up to 80 staff at Schlumberger are expected to be made redundant, while Halliburton has confirmed its intention to halt production in some mature fields with falling output.

It confirmed that many platforms in the North Sea have already been taken offline as the price of oil and other derivatives such as read more

Heating oil up one cent

27/01/2009

Heating oil prices have risen one cent in the US this morning (January 27th), tracking gains made on crude oil.

On the New York Mercantile Exchange, heating oil for February stood at $1.4397 (£1.0175) a gallon by 11:00 GMT, having earlier reached a high of $1.4655.

Meanwhile, crude oil rose above the $46 a barrel mar...

read more

Crude steady on Nymex

26/01/2009

Crude oil contracts have remained broadly stable on the New York Mercantile Exchange (Nymex) this morning (January 26th), gaining marginally on the rally seen last week.

The bourse's main contract - light, sweet crude for March delivery - stood at $46.63 (£33.67) a barrel at 10:53 GMT, up 16 cents on its opening price.

Last week's gains came as speculation grew about the prospect of further production cuts from the Organisation of the Petroleum Exporting Countries (Opec).<...

read more

Heating oil makes fractional gain

26/01/2009

Heating oil prices have increased one tenth of a cent during morning trading on the New York Mercantile Exchange (Nymex).

BY 11:07 GMT, wholesale heating oil contracts for February delivery were trading at $1.4522 (£1.051) a gallon, mimicking the performance of crude on the same exchange.

The gains extend a large lat...

read more