Monday, 15 March 2010
The bill that abruptly halted President Bush’s 2008 stockpiling of crude oil in the US Strategic Petroleum Reserve (SPR) panned out very well, according to a cost analysis by the Department of Energy released on Friday. As Greenwire via the New York Times reported, the decision to suspend refilling the reserve until prices fell below [...]
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Monday, 15 March 2010
A variety of concerns encouraged investors to seek out the safety of the dollar, raising its value against other currencies. The dollar’s strength dragged down oil prices, because it made commodities priced in dollars more expensive for traders who hold other currencies. Oil traders were cautious ahead of this week’s meetings of the Federal Reserve [...]
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Monday, 15 March 2010
The Financial Times reported on Monday that a new study by British and American economists finds that global oil demand predictions by the US Department of Energy, the International Energy Agency, and OPEC fall well short of the mark. The study (available for download in its complete form at the NYU Department of Economics’ [...]
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Monday, 15 March 2010
Oil futures prices have rallied lately, which might lead some to think that the demand for oil must be greater than the supply of oil. On the contrary, oil producers like OPEC are trying to gauge whether there is too much oil on the market. If prices were determined by supply and demand, then the [...]
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Monday, 15 March 2010
Last week, inventory and consumption data, a fluctuating dollar and bouncing stock markets all combined to make for a lot and peaks and troughs in heating oil prices that amounted to a three-cent-per-gallon price increase from Monday to Friday.This week, the main event to watch for tracking heating oil prices will be the meeting of [...]
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Monday, 15 March 2010
Oil prices fell at the end of the week as a report showed that consumer confidence in the US had declined. Weak consumer confidence in the US points to sluggish energy demand from the world’s largest oil consumer. While oil demand remains low in the US, it appears to be picking up overseas; the IEA [...]
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Monday, 15 March 2010
Having survived several blizzards this winter, residents of the Northeast now have to face the springtime menace of rainstorms. A powerful storm that brought lots of water and wind to the region over the weekend and even felled trees and knocked out power in some areas is still lingering. The entire region, from [...]
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Monday, 15 March 2010
KEY: Cumulative Heating Degree Days since March 1, 2010 for specified location / departure from average cumulative HDDs for today’s date.
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Sunday, 14 March 2010
Some consider electricity or hydrogen to be the power source for the cars of the future, but a BBC science program, Bang Goes the Theory, offers another possibility: the coffee-powered car. Nicknamed the “Car-puccino,” it’s a converted 1988 Volkswagen Scirocco that now gasifies coffee grounds to fuel the car, reported the UK’s Daily Mail on [...]
Source: HeatingOil.com » Blog Read Full Article >>
Saturday, 13 March 2010
Air-source heat pumps have gained some popularity as heating systems in warmer regions in the US, since they are powered by electricity, are reliable down to about 30°F, and double as air conditioners when the weather heats up. Now Hallowell International says it has developed an air-source heat pump that can work even in consistently [...]
Source: HeatingOil.com » Blog Read Full Article >>
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