Heating Oil News

EIA weekly oil inventory report – June 10, 2015

Oil prices continued to climb on Wednesday based on a drop in U.S. crude supplies and a weakening dollar. OPEC’s monthly supply-and-demand report released earlier today called for the global glut of oil to shrink in the coming months. U.S. commercial crude oil inventories decreased to 470.6 million barrels, down from 477.4 million from last […]

By |June 10th, 2015|Categories: Heating Oil News, Heating Oil Prices|

Oil prices are surging on Tuesday as traders await oil demand forecasts from key reports

Oil prices went up on Tuesday partly because of a report showing that monthly oil output from seven major U.S. shale plays is predicted to decrease by 91,000 barrels a day next month, according to a monthly report from the Energy Information Administration released Monday afternoon.

The weekly EIA U.S. inventory data report is due later […]

By |June 9th, 2015|Categories: Heating Oil News, Heating Oil Prices|

OPEC decides to keep output production level unchanged

As expected, OPEC has decided to keep output production level unchanged at 30 million barrels a day for the next 6 months, Saudi Arabia’s Oil Minister Ali al-Naimi announced on Friday following OPEC’s meeting in Vienna. The high output would most likely continue to hinder chances of oil price increase as oversupply looms. OPEC’s next […]

By |June 5th, 2015|Categories: Heating Oil News|Tags: , |

EIA weekly oil inventory report – June 3, 2015

EIA just released its weekly oil inventory report for the week ending on May 29, 2015.  You can review the full weekly report here. Oil prices took a tumble today on concerns that the global crude market continues to be oversupplied. U.S. data released Wednesday showed domestic oil production at a new weekly […]

By |June 3rd, 2015|Categories: Heating Oil News|Tags: , |

How will the upcoming OPEC meeting affect oil prices?

No significant changes are expected in oil prices due to the upcoming OPEC meeting. Oil prices rose as much as 2% on Tuesday June 2, driven by a weak dollar, and expectations that U.S. crude supplies could have fallen again last week for a fifth straight week. We’ll be able to confirm this story tomorrow […]

By |June 2nd, 2015|Categories: Heating Oil News, Heating Oil Prices|

EIA weekly oil inventory report – May 28, 2015

Please note, this week the Weekly Petroleum Status Report is released on Thursday, May 28, 2015 at 11:00 A.M. and 1:00 P.M. (Eastern Time) instead of Wednesday, May 27. EIA just released its weekly oil inventory report for the week ending on May 22, 2015.  You can review the full weekly report here. After remaining relatively stable […]

By |May 28th, 2015|Categories: Heating Oil News|Tags: , |

EIA weekly oil inventory report – May 20,2015

EIA just released its weekly oil inventory report for the week ending on May 15, 2015.  You can view the full report here. Crude oil prices increased for 9 consecutive weeks, followed by a slight decline on Tuesday, May 19. Prices are picking up today, Wednesday.

Here are the EIA report highlights:

  1. U.S. commercial crude oil inventories […]
By |May 20th, 2015|Categories: Heating Oil News, Heating Oil Prices|Tags: , |

Crude oil prices increase for 9 consecutive weeks

May 18, 2015 – Oil prices are on the rise today extending a record run in weekly gains. Crude prices increased for 9 consecutive weeks now – that’s the longest weekly streak of gains in at least thirty years but could that rally in oil be too good to be true?

When asked if we are going […]

By |May 18th, 2015|Categories: Heating Oil News, Heating Oil Prices|

U.S. Energy Information Administration (EIA) releases weekly oil inventory report

May 13, 2015 – EIA just released its weekly oil inventory report for the week ending on May 8, 2015.  You can view the full report here.

Oil prices are currently going up, partially due to U.S. decreased oil production this week.

Here are the EIA report highlights:

1. U.S. commercial crude oil inventories excluding those in […]

Are higher oil prices here to stay?

With WTI climbing above $60/barrel and crude oil inventories in USA declining, oil prices are at the highest in 2015. According to EIA oil stockpiles fell by 3.9 million barrels for the week ending on May 1, a larger drop than expected. Rig count is also going down, and weekly production figures and […]

By |May 8th, 2015|Categories: Heating Oil News, Heating Oil Prices|