Oil down on high supply, heating oil spikes again

lundi 23 février 2015

A general view of the Bashneft-Ufimsky refinery plant is seen outside Ufa, Bashkortostan Crude oil futures were lower on Monday as investors worried about oversupply and a strong dollar, but heating oil jumped about 6 percent for a second straight day due operational problems at major U.S. refineries. The largest U.S. refinery strike in 35 years has also pressured crude prices. Heating oil futures shot above $2.24 a gallon, the highest in nearly three months, as some of the biggest U.S. East Coast refineries struggled to restore operations after severe cold weather triggered outages. "It's a worry of high supplies with crude and tight supplies with heating oil," said Gene McGillian, senior analyst at Tradition Energy in Stamford, Connecticut.








via Business News http://ift.tt/1GjgW8A

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