Home heating oil, gas prices stay high - Newsday

Home heating oil prices remained at near record levels on Long Island this week, the result of tight supplies, cold weather in the Northeast, and tensions in hot spots around the world, analysts and government reports said Thursday. Oil prices rose Thursday morning after Pakistani opposition leader Benazir Bhutto was assassinated, leading to concerns about stability in that country. But analysts said Bhutto’s assassination should not have any long-term effect because Pakistan is not a major supplier of oil. Kevin Rooney, executive director of the Oil Heat Institute of Long Island, said a variety of factors — rapidly increasing energy demand worldwide and refining problems in the U. Yet, Tom Bentz, senior energy analyst at BNP Paribas, energy brokers in Manhattan, said he expects oil to hit $100 a barrel in the first quarter of 2008. read more

[Tags]oil, analysts, energy, 3, heating, home, gas prices[/Tags]

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