Heat USA Phone Line Update: It’s Fixed!
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The phone lines have been fixed! Thanks for bearing with us. We’re taking calls, ready to answer questions and help with anything you need.
Reach Us At This Number!
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We’re still working out some kinks on the regular line, but you can reach us at (212) 254-4328. Just so you know, it’s not our phones – it’s the telecommunication service company. Thanks again for being patient.
Heat USA Phones Temporarily Down
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We’re fixing the problem; the lines should be up and running shortly. We apologize for the inconvenience. Thanks in advance for your patience!
Please Pardon Our Appearance!
We are in the midst of completely rebuilding our website and will be testing forms and functionality from today until approximately January 20th. While we’re doing this you may find some functionality of the site compromised (buggy) or some information not showing properly. This will be normal during this period and we apologize for it in advance.
The good news is it will be worth it. We will be re-launching HeatUsa.com as one of the premier information sources on home heating anywhere on the web. It will have more functionality for our members, and for the public at large. We’ll be publishing stories several times a day on energy prices, conservation, how to purchase new heating equipment and more to help empower and inform our members.
So in the meantime, please pardon our appearance as we bring the new HeatUsa.com to life!
Oil Prices Falling on Weak US Retail, China Industrial Data
As of 9:37 am EDT, the price of crude had fallen by 2 percent to $73.91 a barrel and the price of heating oil had fallen by 1.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.03
Morning projection (for Monday’s average price per gallon): Down $0.03
New manufacturing data from China showing a decline in industrial output last month sent oil prices down in early trading on Friday morning. Declines accelerated following the release of data on US retail sales, which fell 1.2 percent in May, despite expectations of another increase, as was seen in April. The retail numbers put a damper on hopes of the world’s largest oil consumer seeing economic recovery soon, and a continually sluggish economic growth would keep oil demand weak and prices low.
HEAT USA price experts reported that the bearish news from the US and China, the worlds top two consumers of oil, are expected to keep prices low for the rest of the day and bring a drop in retail heating oil prices on Monday.
Oil Prices Dip Despite Chinese Imports
As of 8:56 am EDT, the price of crude had fallen by 0.8 percent to reach $84.28 a barrel and the price of heating oil had dropped by 0.3 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: No Change
Morning projection (for Tuesday’s average price per gallon): Down $0.01
Crude and heating oil prices declined on Monday morning despite news that Chinese oil imports had increased, which indicates growing global oil demand, and a weak dollar, which typically leads to higher prices for commodities. When considering the fundamentals, supply continues to far outpace demand, which could explain today’s slipping oil prices. However, large oil supplies have not prevented previous rallies in the oil markets. Some analysts pointed to technical charts that suggest that the price of oil is due for a correction after sharp increases in late March and early April, while other analysts pointed to psychological factors and said that traders were pausing and reassessing the market after recent gains.
HEAT USA price experts report that sentiment in oil markets can change quickly, but no significant economic data is scheduled to be released in the US today so crude and heating oil prices could remain sluggish and continue their decline.
Oil Prices Climb on Cold Weather, Growing Asian Economies
As of 8:58 am EST, the price of crude had risen by 2.42 percent to reach $81.28 a barrel and the price of heating oil had gained 2.52 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Up $0.01
Morning projection (for Tuesday’s average price per gallon): Up $0.06
Heating oil continues to rally on NYMEX as the US Northeast is hit with cold weather. Rising heating oil demand has supported crude oil prices, which are also getting a boost from economic recovery in China and India. A potential threat to Europe’s oil supply has also caused crude oil to move higher, as Russia and Belarus have failed to reach an agreement on export duties on Russian oil. Though Russian oil shipments have so far continued at normal levels, a similar dispute disrupted Europe’s oil supply three years ago.
HEAT USA price experts report that cold temperatures continue to lift the price of heating oil, even though inventories of distillates, which include heating oil, remain above average. Over the last few days, weather has had more of an impact on heating oil prices than the strength of the economy or the dollar, a trend that could last while temperatures remain low.
UPDATE: US Economic Growth Brings Midday Price Change
Heating oil’s drop in price from Wednesday only lasted a few hours, as positive economic data caused a spike in oil prices. News that the US economy grew in the last quarter spurred beliefs that the recession had ended and that economic recovery would revive oil demand, sending crude and heating oil prices upward on NYMEX.
HEAT USA Price Report
Midday Price Change: As of 11:00 am average retail heating oil prices are UP $0.06 per gallon from this morning.
Positive Economic Data from US, UK Lift Oil Prices
At 8:56 am EDT, the price of crude had gained 0.5 percent to reach $72.85 a barrel and the price of heating oil had risen by 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.02
Morning projection (for Monday’s price per gallon): UP $0.01
Crude and heating oil prices are back on the rise this morning, boosted by surprisingly positive economic news. Second quarter Gross Domestic Product in the US and the UK shrank less than expected and new filings for American unemployment decreased last week. This morning’s gains follow an upswing in oil prices late yesterday sparked by a US stock market rally and declining dollar. Despite the gains, there remains little long-term support for oil and energy prices, as demand in the US remains dismal and crude and distillate supply levels remain sky-high. Under these conditions, most analysts have identified the current range for crude prices as $70 to $75 a barrel.
HEAT USA price experts reported a small increase in retail heating oil prices today—a result of oil prices closing slightly higher on NYMEX yesterday. They predicted another small increase in prices on Monday.
The HEAT Zone is Going on Vacation!
Dear HEAT Zone readers,
The HZ will be taking a weeklong summer vacation starting tomorrow, so you won’t see any new posts until we return. Come back for regular visits after next Thursday, July 23rd, to find the same high-quality, comprehensive heating oil and energy news you need to know.
Cheers,
The HEAT Zone Staff
