Oil Prices Edge Up With Stocks
The price for a barrel of crude touched a 22-month low of $54.13 early this morning before inching upward to $55.85 as of 9:54 am eastern time. Heating oil was also up a fraction, to $1.80 per gallon at 9:57 am.
The stock market appears to be the main motivator for the small upswing in oil prices, mostly due to the lack of new supply and demand data today. The Dow Jones Industrial Average was up a fraction of a per cent to 8329.17 as of 9:50 am.
HEAT USA price experts confirmed a small drop in retail heating oil prices this morning, and predicted a small price increase tomorrow.
HEAT USA Price Report
Today’s average heating oil price per gallon: DOWN $0.03 to $0.04
Morning projection (for Wednesday’s average price per gallon): UP $0.01
Tags: commodities, crude oil, Dow Jones Industrial Average, HEAT USA, heating oil, market, oil prices, stock market
