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.

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