Markets

Morning Heating Oil Market Report

(IBTimes) - June heating oil prices experienced a gap lower open Tuesday evening, even in the face of private industry data that showed another sharp drawdown in distillate stocks. Prices plunged to a new low for the decline, and were off 9.7% from their late April high to the overnight low. Expectations for this morning's EIA data are for a draw in distillate stocks of around 500,000 barrels. This compares to the five year average build for this week of the year of 700,000.

Original Source: http://www.ibtimes.com/articles/341733/20120516/morning-heating-oil-market-report.htm

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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