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Thursday 14 November 2019

Low distillate inventories contribute to higher heating oil price forecast (11/14/2019)

Distillate inventories in the Northeast United States (Petroleum Administration for Defense Districts, or PADDs, 1A and 1B), which include heating oil, were 24.4 million barrels on November 8, 37% below the below their previous five year (2014–18) average (Figure 1). Northeast distillate inventories remained below the previous five-year average every week this year, but remained within the previous five-year range until late-September when inventories in the Northeast fell below this range. Customers in the Northeast rely on heating oil more than in any other region; about 20% of households in this region use heating oil for space heating. Pricing dynamics in distillate futures are currently consistent with low inventory levels. The U.S Energy Information Administration (EIA) believes that heating oil prices will likely increase and revised its heating oil price forecast up in the November Short-Term Energy Outlook (STEO) to reflect the current supply tightness in the Northeast. ... More »
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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.