Heating oil settles at all-time high on crude

07 May 2008 22:15  [Source: ICIS news]

HOUSTON (ICIS news)--June NYMEX hearing oil futures settled at 344.73 cents/gal on Wednesday, an all-time high.

The increase follows the upswing in crude oil, which settled at $123.53/bbl, also an all-time high.

The US Energy Information Administration (EIA) showed a 100,000 bbl decline in distillate fuel stockpiles in its weekly inventory report released early this morning.

“It’s been an interesting day,” said a New York-based trader.

($1= €0.64)

By: Steven McGinn
+1 713 525 2653

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