Heating Oil 4 Hour Price Update
Updated September 25, 2020 12:50 AM GMT (08:50 PM EST)
Heating Oil closed the previous 4 hours down 0.22% ($0); this denotes the 4th candle in a row a decline has happened. Relative to other instruments in the energy commodity asset class, Heating Oil ranked 5th since the previous 4 hours in terms of percentage price change.
Heating Oil Daily Price Recap
Heating Oil’s 4 day negative streak has officially concluded, as the candle from yesterday closed up 1.95% ($0.02). Out of the 6 instruments in the energy commodity asset class, Heating Oil ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of Heating Oil below illustrates.
Heating Oil Technical Analysis
The first thing we should note is that the current price of Heating Oil is sitting close to its 20 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Heating Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Heating Oil’s price has gone up 7 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Heating Oil:
- From iIIdyke:
OOMFS. lets say, a bug jumped into the pan while i was heating oil and died, so i flicked it out of the pan and it landed on a knife. then, hypothetically, i picked up the knife and brought it to the flame to set the DEAD bug on fire. in this situation would that make me evil.
- From philipnolan1:
I paid €470 for 700 litres of home heating oil in February. I’ve had a fill since and just now had another delivery to top up the tank for autumn. 648 litres – €304. At these prices, I wish I had a second tank!
- From thomas_lord:
@Donald_Booker Right? You want a climate strategy? Start shutting down as many of those jobs as you can. (Nearly) stop selling petrol, jet fuel, natural gas, and heating oil, this decade. Call that a “good start”.
“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram