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Morning Heating Oil Market Report for 11/1/2010

By International Business Times November 01, 2010, 12:15:55 PM EDT

December heating oil appears weakest within the energy complex this morning as it struggles with Friday's high ($2.2590). Some traders have indicated that despite the slow price decline from the October high at $2.3514 the market has been able to hold above the September highs and to be supported by steady demand for distillates in the world market. The Commitments of Traders Futures and Options report as of October 26th showed non-commercial traders were net long 32,419 contracts, a decrease of 486. Non-commercial and nonreportable traders combined held a net long position of 48,989 contracts, a decrease of 1,588.

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This article appears in: Investing, Commodities

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