February 3, 2012 2:47 PM GMT
March heating oil prices traded higher throughout the overnight and early morning hours. Gains in Brent crude oil and its increasing premium relative to WTI appear to be offering a level of support. It is possible that support is also coming from increased European demand for jet fuel, which pushed cash differentials in Singapore to their highest level in 3.5 months. This also comes as European refining capacity declines in the wake of Petroplus closing 3 European refiners.
European shares are on the upswing and S&P 500 stock index futures are pointing higher, hinting risky assets are likely to remain supported as Wall Street comes online.
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Depressed Natural Gas Prices Look To ReboundWe value your privacy. Your email address will not be shared.
