Icy weather forecast this week for the United States Northeast, the world's biggest heating oil market, was expected to boost demand and test already tight heating oil inventories that are seven per cent below year-ago levels.
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Crude Oil Firm
Oil prices continued staying firm on Monday, reflecting...
Oil prices continued staying firm on Monday, reflecting to the last week?s gains as the US Northeast prepared for a cold weather.
US crude ended 34 cents higher at $48.38, taking the week's gains to 6.5 per cent amid a slew of production hitches, shipping delays and supply anxiety. London Brent crude futures traded up four cents at $45.00 a barrel on the IPE.
Icy weather forecast this week for the United States Northeast, the world's biggest heating oil market, was expected to boost demand and test already tight heating oil inventories that are seven per cent below year-ago levels.
Icy weather forecast this week for the United States Northeast, the world's biggest heating oil market, was expected to boost demand and test already tight heating oil inventories that are seven per cent below year-ago levels.
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