Heating Oil


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Heating Oil

A petroleum product used to heat private homes, offices and so forth. Approximately 25% of the world's crude oil is developed into heating oil. It is traded as a commodity on the Intercontinental Exchange and the New York Mercantile Exchange.
References in periodicals archive ?
"Every dollar we don't have to spend on energy like home heating oil or gas is a dollar we get to keep in our pockets,'' said Michael D.
The Lib Dem MP says the last OFT investigation, which found little wrong in the heating oil market, was completely unsatisfactory.
cities, mostly in the Northeast, still rely on dirty heating oil, mostly because they were built before natural gas was widely available.
"Our campaign this autumn encouraged people to buy their heating oil early.
"There were several proposals made by colleagues, some called for exempting heating oil from the value added tax and another proposal was to distribute heating oil coupons to needy people," he added.
The campaign is part of a co-ordinated effort by consumer groups and industry to encourage heating oil consumers to stock up early on winter supplies when prices tend to be lower and suppliers have spare delivery capacity.
The profit from refining crude into heating oil - i.e., the crack spread - rose to $13.70/b on Oct.
Consumer Focus, an independent champion of consumer rights, has launched the investigation into the use of heating oils and LPG following a raft of complaints.
Chief executive Eleanor Gill said unless the home heating oil industry could assure consumers they were paying a fair price they would consider referring the pricing to the OFT.
US heating oil prices hit a fresh record yesteeday as colder weather hit the US Northeast, the world's biggest heating oil market, helping push crude higher.
You might double check your figures on page 9 in the January 2006 issue of State Legislatures, which show 62,000 homes in the USA use natural gas and 8,000 use heating oil. I suspect a few zeros may have been left off the numbers.