Update on heating oil prices: You’ll be paying less this winter
The U.S. Energy Information Administration expects retail heating oil prices to average $2.96 per gallon this winter, $0.92 per gallon less than last year.
As of this date, propane inventories are 32.6 million barrels greater, or ~122.1% higher than they were in the corresponding period last year.
The weather is the major driver of natural gas prices, so investors generally have an idea about how prices are likely to move in the short term.
Leveraged loan mutual funds saw outflows the week of February 27. The quantum of outflows was $118 million versus inflow of $130 million the previous week.
Riverbed Technology, a manufacturer of appliances used to connect computers in a wide-area network, issued leveraged loans worth $1.725 million.
Due to the fall in yields, returns on high yield debt were positive in the week ending February 27.
Almost all high yield bonds that were priced in the market in the week ending February 27 found strong investor appetite.
With several central banks remaining accommodative, driving bond yields down, investors turned to high yield debt and associated ETFs to get higher yields.
The S&P 500 remained above 2,100, but ended lower for the week, while the DJIA was marginally down from its previous week’s closing level.
The colder weather forecast was a catalyst, pushing natural gas prices for a breakout above their key resistance of $2.700 per MMBtu.
This series covers the latest action in natural gas prices. Natural gas prices were under pressure due to bearish inventory withdrawals and oversupply.
Crude oil prices settled at $50.52 per barrel on March 3, 2015—just above the trend line support of the pattern.
Crude oil prices settled higher on March 3, 2015, led by supply disruptions in Libya and Iraq as well as an improving demand outlook.
Gold prices for April futures contracts show the formation of a trading range. Prices are oscillating in a narrow range of $1,200 to $1,220 per ounce.
Gold prices are trading almost 37% lower than they were in August 2011. The drop in gold prices was due to the strong US dollar.
Capping the month with a gain of 3.1% since January 30, WTI’s (West Texas Intermediate) increase has been small compared to Brent’s 18% increase.
Crude prices extended last week’s decline. A slowdown in rig counts’ weekly decline intensified anxiety related to oversupply.
The fall in consumer confidence in February was primarily because Americans are less optimistic about job prospects and wages.
In the 12 months leading up to January, prices fell 0.1%, the first decline since October 2009. In December, consumer prices rose by 0.8% year-over-year.
The durable goods orders report is important because it indicates the mood of businesses. A rising number indicates more confident businesses.
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