Heating oil market also known as number two fuel oil, grew rapidly after World War II, as homeowners and builders switched from coal. For decades prices were relatively stable, reflecting the worldwide stability of crude oil prices.
Heating oil market situation changed in the early 1970’s,. As the government of foreign oil producers nationalized their crude [...]
Supergiant oilfield, Rumaila has been contracted to drill Iraq and Turkish Petroleum, There where drilling 45 wells. Earlier this year, Iraq completed a round of 10 long-term contracts with 15 global oil giants to develop the country’s oil resources. Britain’s BP and China’s China National Petroleum Corp., for instance, signed a 20-year contract to develop [...]
Futures trading natural gas rise for a second day in New York before a report next day probably show a bigger than average decline in stock of heating fuel. Industrial demand for natural gas, which represents about 29 percent of consumption, may also be on the rebound with a recovery in the U.S. economy.
Natural [...]
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