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 moved to the bottom end of its recent trading range as a larger than expected build in crude oil inventories added negative sentiment. Price action seems to be following the dollar as opposed to strict fundamentals that reflect supply and demand. Over the last few trading session the dollar has weakened allowing petroleum products to gain traction. Demand continues to remain…