Trends News Nook

12/6/18

As we enter the winter months heating prices, namely heating oil, are always a concern to consumers. West Texas Intermediate (WTI) crude prices have fallen 30% since hitting an October 3rd high of $76 recently hit a new low of $50 on November 28th. Commodity traders are looking for crude to fall even further to $40 a barrel. There are three main reasons for this; increasing global supplies, concerns over a U.S. and China trade war, and rising interest rates giving way to a strong U.S. dollar. Lower oil prices is good news for consumers especially during the winter months here in the Northeast.