Both crude and heating oil prices dropped slightly on NYMEX today, losing about 1% each.  Ever-present worries about low global energy demand continued be the dominant emotions on the commodities markets.  From Bloomberg.com:

“The bottom line is that you don’t have anything solid out there to support a sustained rally,” said Peter Beutel, president of energy consultant Cameron Hanover Inc. in New Canaan, Connecticut. “The financial crisis has led to economic weakness and falling demand in the U.S. The problems in the U.S. are now spreading to China and other developing countries.”

Analysts also predicted tomorrow’s energy report from the Energy Department would include news of U.S. crude stockpiles increasing by about 1 million barrels.

HEAT USA price experts were pleased to report a moderate decline in tomorrow’s retail prices, despite only incremental decreases in market prices.

HEAT USA Price Report
Evening projection (for Wednesday’s average price per gallon): DOWN $0.04