Archive for August 2009
Heating oil tracks crude down
19/08/2009
Heating oil prices moved downwards this morning (August 19th), slipping along with crude and other commodities as the Shanghai Stock Exchange dipped more than two per cent.
At 04:23 Eastern Time, the headline heating oil contract trading on the New York Mercantile Exchange (Nymex) had fallen to $1.8423 (£1.12) a gallon, down ...
Heating oil steady on equities recovery
18/08/2009
Heating oil prices were up marginally in electronic trading on the New York Mercantile Exchange (Nymex) this morning (August 18th), shored up by improving equities.
Commodities such as heating oil and crude slumped on Friday and yesterday after the equities rally seen in recent weeks began to falter, but losses have been sutured t...
Crude moves upwards on stocks, dollar
18/08/2009
Crude oil prices were recovering from two days of losses this morning (August 18th) as stocks moved higher and the dollar fell against the euro.
By 04:40 Eastern Time, the headline contract on the New York Mercantile Exchange was trading at $67.45 (£41) a barrel, up 70 cents on yesterday's settle price.
The commodity had suffered two days of falls on the exchange amid a weakened performance in key equity markets, but is stabilising this morning as key markets begin to move...
Shell invests in low-sulphur heating oil
18/08/2009
Royal Dutch Shell has unveiled plans to build a new hydrodesulphurisation plant at the Pernis Refinery in the Netherlands, a move which it hopes will service demand for low-sulphur heating oil products throughout Europe.
The new facility, which is expected to be completed in the second half of 2011 and significantly boost production volumes at the plant, is currently capable of processing 400,000 barrels of crud...
Heating oil down on weak sentiment, Claudette's landfall
17/08/2009
Heating oil prices were down this morning (August 17th) as confidence in the US economy waned and Hurricane Claudette made landfall in the US without major incident.
By 06:17 Eastern Time, the September delivery heating oil contract trading on the New York Mercantile Exchange had slipped to $1.80 (£1.10) a gallon, down nearly...
Crude skids on Nymex
17/08/2009
Crude oil prices moved lower this morning (August 17th) as investors recalibrated their attitudes to risk as signs of economic weakness resurfaced.
Oil futures trading on the New York Mercantile Exchange (Nymex) extended heavy losses witnessed on Friday (August 14th) after Japanese gross domestic product data showed that while the country has pulled out of recession, growth is below expectations.
Speaking to Bloomberg, Victor Shum, a senior principal at consultant Purvin & ...
Oil climbs for fourth day
14/08/2009
Crude prices were up on the New York Mercantile Exchange this morning (August 14th), with the headline contract rising for the fourth consecutive day amid resuscitated confidence in the global economy.
In another day of moderate gains, the September contract moved closer to $71 (£43) a barrel while key equity markets also enjoyed a rally in Asia and Europe.
Meanwhile, faith in the US economy was also demonstrated in a Bloomberg poll showing that analysts expect that indust...
Heating oil breaches $1.90 a gallon
14/08/2009
Heating oil prices climbed above $1.90 (£1.14) a gallon yesterday amid signs that the global economy is entering recovery mode.
Mimicking gains in crude, heating oil prices have rallied this week after data showed that Germany and France have pulled out of recession, while in the US the Federal Reserve expressed its confidence that the worst recession seen in the country since the 1930s may now be ov...
Oil climbs on Fed optimism
13/08/2009
Crude oil prices were up in electronic trading on the New York Mercantile Exchange (Nymex) this morning (August 13th), extending gains seen yesterday after an eagerly awaited announcement from the US Federal Reserve.
Traders have drawn confidence from the announcement that the Fed will keep target interest rates at "exceptionally low" levels for an extended period of time and have helped to drive up stocks and equities in the States.
Meanwhile, currencies such as the ...
Heating oil strengthens after Fed announcement
13/08/2009
Heating oil prices were up in electronic trading on the New York Mercantile Exchange this morning (August 13th), riding on the coat-tails of invigorated confidence in the economic climate.
Data from Germany showing a 0.3 per cent growth in gross domestic product during the second quarter lifted stocks and commodities in Europe, while in the US, traders were emboldened by an announcement from the Fed indic...
Fuel Oil Direct info@fueloildirect.co.uk
© 2012 GB Oils Limited, 302 Bridgewater Place, Birchwood Park, Warrington, Cheshire WA3 6XG. Registered in England (Company No: 04168225)
