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Energies Crude Oil The price of oil fluctuates quite widely in response to crises or recessions in major economies, because any economic downturn reduces the demand for oil. On the supply side the OPEC cartel uses its influence to stabilize or raise oil prices. See Analysis of Crude Oil Prices - Will Reach $300/barrel Gasoline Unleaded The supply of Unleaded Gasoline is directly related to the supply of Crude Oil, since Unleaded Gasoline is a product of refining Crude Oil. The supply or production of Unleaded Gasoline is best understood by breaking it down into two components: Crude Oil supply and available remaining supply of Unleaded Gasoline. See Analysis of Unleaded Gasoline Prices Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center. See Analysis of Heating Oil Prices Natural Gas Natural gas is a gas produced by the anaerobic decay of organic material. It is usually found in oil fields and natural gas fields, but is also generated in swamps and marshes, in landfill sites, and during digestion in animals. See Analysis of Natural Gas Prices Propane Propane is a by-product of natural gas processing and oil refining. U.S. demand is approximately one-third that of heating oil. Propane is used in diverse markets: residential cooking, crop-drying in agriculture, space heating in homes and industry, and as a feedstock for the production of vital petrochemicals. Natural gas utilities often store propane for use during periods of peak demand. See Analysis of Propane Prices |
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