Written on: August 1, 2017

Heating Oil, Crude Continue Ride Up

Tuesday, August 1, 2017

Heating oil and Crude futures extended their rally on Monday, amid the prospect of US sanctions on Venezuela’s state-run oil sector, as well as talk that the upcoming OPEC/non-OPEC meeting in Abu Dhabi would center on increasing compliance by parties to the agreement. Heating oil continued its rise settling 1.22 cents stronger at $1.6519 per gallon. Gasoline led the way higher, gaining 2.97 cents to close at $1.7058 per gallon. WTI crude settled 46 cents stronger and above the $50 a barrel mark, while Brent crude added 13 cents to settle at $52.65.