Crude prices rise ahead of a possible arctic blast in the US

[Robbien]

NEW YORK, December 21 (newratings.com) – Crude oil futures traded at around $46 per barrel today on expectations of a surge in the demand for home heating fuels, driven by a possible arctic blast in the US. Light sweet crude for February delivery appreciated 17¢ to $45.95 in early afternoon trade on the New York Mercantile Exchange.

According to an Associated Press report, high oil prices continue to be supported by the tight supply of distillate fuels, which includes heating oil and diesel. The US inventory of distillates, currently 12% lower than the year-ago level, is expected to decline this week. Crude oil prices have remained high in the current year so far on fears of supply disruptions, primarily from key producers such as Iraq, Russia, Saudi Arabia and Nigeria. According to a CNN report, winter is likely to be significantly colder than normal in the eastern United States, the world’s largest market for heating oil. Extreme cold weather conditions would keep oil prices high.

http://www.newratings.com/new2/beta/article_583472.html

[DiverDave]

1. Meanwhile, back at Mobil headquarters...

CHA-CHING!!
They are gearing up for another record breaking earnings quarter.
It sickens me that people will forgo filling the oil tank because they have the choice...Food\Medicene or heat.
They will pay, come the revolution, oh yes, they will pay.

[Xipe Totec]

2. People are being naughty this year

just to get a lump of coal from St Nick so they can heat their homes.

;(

[hackwriter]

3. I paid $2.24/gallon last time they filled my tank

And this is on price protection plan. Last year I paid $1.58. That's like 40% higher in just one year. I'm lucky; I can absorb that kind of price hike. But what about people living paycheck to paycheck?

[durablend]

4. "They can freeze"

"The rapture will take care of those selfish, godless people that only worry about heat"