Brokers and Brokerage

Business Brokerage By Freddie Mooche

- You want to request a stock broker to transfer your brokerage

Forex Broker Tight supplies and forecasters predicting weeks of cold weather pushed crude oil prices up to a six-month high of $44.19.

The current price for Brent Crude oil has subsided over the last few months, expected winter in the northern hemisphere and the resulting need for less heat.

Online Brokerage If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

(AXcess News) A cold winter weather streak in the U.S. is fueling higher heating oil prices in New York Wednesday as NYMEX traders eased heating oil prices higher .0105 cents at $1.847 a gallon by late afternoon after reaching $1.90 a gallon in early trading. Crude oil futures for December delivery were off 57 cents, but still over $60 a barrel at $60.80. Natural gas traded down 67 cent per thousand feet at $14.70 and gasoline was down .0049 cents at $1.641.

Real Estate Broker Dec 16, 2004 (AXcess News) New York - Following the U.S. government's release of heating oil reserve figures crude oil gained in trading Wednesday on the New York Merchantile Exchange to reach a six month high of $44.19 a barrel at the close.

. (EUNN) Authorities stopped a suicideattack on the Saudi Arabian Abqaiq processing center, thirds of the oil from the world's largest producer. Crude oil prices tore up following the news as traders worried the flow of crude oil would halt. Crude oil for April delivery rose as much as $2.06, or 3 percent, in early New York trading following news of the Abqaiq oil processing center's attack this morning before recovering to $62.21 a barrel, which is still $1.67, or 2.76 percent, higher than the open.

Agency Brokerage Spark The government report stated that heating oil inventory had declined which traders reacted to. According to the report from the U.S. Energy Department heating oil supplies were at 49.9 million barrels last week, down 71,000 barrels.

Imports of petroleum products rose 5.2 percent in May compared to 11.5 percent April. While high, the cost of crude oil declined in May relative to April when crude oil traded over $75 per barrel late in the month. Petroleum prices rose 45.7 percent for the year ended in May.

Business Broker The decline was not a lot, but the combination of hearing that supplies themselves were lower and the cold weather hitting was enough to send traders into a buying frenzy that pushed crude oil futures higher.Crude oil futures rose Wednesday $2.37 per barrel, or 5.7 percent, to close at $44.19 but in after-market trading it continued to rise to $44.55 in electronic trading on the NYME.Weather forecasters had predicted colder temperatures for several weeks to come in the heart of heating oil country where most of the U.S. supply is consumed.

Brokerage Account Pipeline capabilities are also said to be constrained in the northeast, whose market consumes 80% of that fuel.

Stock Broker According to the energy report, heating oil supplies were 4.8 percent lower than last year while distillate inventories were 8.7 percent lower after a rise of 37,000 barrels to 119.3 million.Advertisement

Brokerage Online Stock Trading Energy analysts had expected distillate inventory to rise 1 million barrels. Wednesday's figures released by the government caught traders by surprise.The department of energy had predicted earlier this week that heating oil prices at the consumer level could rise as much as 34 cents per gallon. Wednesday's spike, if continued through the next couple of weeks could make that prediction a reality.

Broker Justin Ticket Figures on the distillate stocks were released by the American Petroleum Institute at the same time as the Department of Energy's. According to their report, distillate inventories fell 2.2 million barrels, or 1.9 percent, to 118.6 million barrels.

Real Estate Brokerage Heating oil for January delivery rose 8.39 cents, or 6.4 percent, to close at $1.3884 a gallon in New York, the highest since Nov. 30. It was at $1.3943 a gallon in after-hours trading.

Commodity Broker In other news, Colonial Pipeline Co. said it continue rationing space on its pipeline between Houston and New York. Colonial made the move two months ago as distillers in the Gulf of Mexico began producing more.Traders are growing very concerned with the market's direction.

Brokerage House AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

[ Comment, Edit or Article Submission ]