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Are you seeing heating oil pricing coming down because of the coronavirus? I'm on LI and I use a full service company.
Depends how long and how bad ...heating oil companies lock prices in using futures contracts so their costs are locked in until the contracts are up ....some may adjust you up with the market , but not down
Investing.com - Oil prices rose on Friday in Asia after hitting nine-week lows in the previous session amid fears over the new China coronavirus. U.S. Crude Oil WTI Futures gained 0.5% to $55.84 by 12:01 AM ET (04:01 GMT), while international Brent Oil Futures rose 0.4% to $62.28.
The flu-like virus, which can be transmitted from person to person, has killed 25 people in China so far and infected more than 800, according to data released by Chinese authorities on Friday. But fears of contagion were calmed somewhat after the WHO said it was "too early" to worry about a global outbreak, adding that the virus remained a local crisis for now.
everything I'm reading says that barrels will come down a few dollars. but I appreciate your pov's... both of you seem to think that I shouldn't expect much of a break when I go for the new contract. thanks for that!
Investing.com - Oil prices rose on Friday in Asia after hitting nine-week lows in the previous session amid fears over the new China coronavirus. U.S. Crude Oil WTI Futures gained 0.5% to $55.84 by 12:01 AM ET (04:01 GMT), while international Brent Oil Futures rose 0.4% to $62.28.
The flu-like virus, which can be transmitted from person to person, has killed 25 people in China so far and infected more than 800, according to data released by Chinese authorities on Friday. But fears of contagion were calmed somewhat after the WHO said it was "too early" to worry about a global outbreak, adding that the virus remained a local crisis for now.
Oil is down big time today Friday Jan 24th.. about 2-1/2%
Crude can go up and down quickly but heating oil will always be a more lagging indicator, especially if the weather gets/stays cold. On the other hand, warm weather can move the price down more quickly, but still more a weather/demand factor than a relation to the spot price of a barrel.
LOL. Forget it when they drop a big deuce … downhill from there
That’s how you get biodiesel.
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