05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
Heating oil prices stabilized on Wednesday ahead of the Federal Reserve monetary policy announcement and after large builds reported in crude oil stocks by both the American Petroleum Institute and the Department of Energy.
A dovish statement by the Fed could alter the course of the strength of the US dollar, which has created headwinds for heating oil prices and generate a long awaited bounce. The…