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07 December 2010
EIA: Heating Costs Relatively Stable
EIA: Heating Costs Relatively Stable
The EIA , (U.S. Energy Information Administration), expects household bills for space heating will be about 3% higher than last year. Heating oil inventories are 17 percent above their 5 year average, according to API’s latest weekly update. It was also noted that the rise or fall of crude oil prices is driven by the strength or weakness in the US dollar against other foreign currencies, such as the Euro, since the dollar is the primary currency in which oil is traded. As the dollar weakens oil prices generally rise.