March heating oil prices established a higher high during the early morning hours that challenged the July high. While US heat-related demand for heating oil remains under pressure from a warmer than average winter, it appears that heating oil prices have drafted support from a surge in European gasoil prices. Some traders indicated that some of the added support in the heating oil market might have come in response to news that China's Sinopec is expected to raise retail diesel prices by around $47 per ton starting tomorrow.
Related Articles
Free UK banking may have to end - BoE Bailey
MasterCard loses card fee challenge, Visa Europe next
Euro Falls to 21-Month Low on Greek Worries
Related Topics
Like us on Facebook
Follow us on LinkedIn 
LinkedIn
News From Commodities
- Also read: DAILY KITCOMMENTARY FOR: Dec. 23, 2010
- Also read: Gold -Daily Technical Forecast
- Also read: Silver - Daily Technical Forecast
Popular Multimedia
Phillip Phillips: Things You Need to Know, His Girlfriend and His Victory at the American Idol [PHOTOS & VIDEO]
Top Ten Happiest Countries in the World in 2012 [SLIDESHOW]
World’s Largest Pool, The Crystal Lagoon Chile, Wows Guests At San Alfonso Del Mar Resort [PHOTOS]
POM Juice Lawsuit: 5 Other Companies Accused Of False Advertising
