Newspaper article THE JOURNAL RECORD

Heating Oil Up, Others Decline

Newspaper article THE JOURNAL RECORD

Heating Oil Up, Others Decline

Article excerpt

NEW YORK (AP) -- Heating oil futures made slight gains at the New York Mercantile Exchange Tuesday, while crude and products prices declined ahead of government plans to release crude from strategic reserves.

Weekly industry data show that inventories of crude oil and motor gasoline near year ago levels, while heating oil reserves remain extremely low.

Heating oil for November delivery rose .3 cents to 96.35 cents a gallon.

Data from the American Petroleum Institute, released after markets closed, showed only small inventory gains in distillate fuel, which includes heating oil. U.S. stockpiles of distillate fuel grew by 336,000 barrels to 116.5 million barrels, roughly 20 percent below levels from the same period a year ago, according to API.

Crude oil, unleaded gasoline and natural gas fell, analysts said, to correct for significant gains made on Monday. November crude lost 11 cents to finish the day at $32.07 per barrel, November gasoline dropped .26 cents to 88. …

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