While demand for petrol may ease slightly as motorists cut back on unnecessary driving in the inclement weather, heating oil price would probably be under steady upwards pressure.
Demand for oil across Asia is expected to increase with their economic growth, expect oil prices to move up a steady mild incline throughout 2010 as the global economy picks up cautiously.
Strong supply is helping to stabilise price but Opec has made it known that they are not keen to increase output until their next review in July.
| MARKET METRICS Thu., Dec. 30, 2010 | |||
| Crude Oil | Opec Basket | 90.22 | +0.14 |
| ($/bbl) | ICE Brent | 93.09 | -1.05 |
| Nymex Lt Swt | 89.84 | -1.28 | |
| Products | Nymex (¢/gal) | ||
| Gasoline | 239.18 | +0.14 | |
| Heating Oil | 248.54 | -3.61 | |
| ICE ($/ton) | |||
| Gas Oil | 765.75 | -14.25 | |
| Natural Gas | New York | 5.33 | +0.08 |
| Spot Prices | Henry, LA | 4.23 | +0.05 |
| ($/MMBtu) | Katy, Texas | 4.17 | +0.02 |
| AECO, Canada | 3.74 | +0.10 | |
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