New England faces record-high heating oil costs this winter
FROM THE WIRE · SEEKINGALPHA.COM
[Heating Oil Tank] Douglas Rissing/iStock via Getty Images Surging gasoline and fuel oil prices drove up inflation [https://seekingalpha.com/news/4653219-surging-gasoline-prices-accounted-for-more-than-half-of-last-months-jump-in-us-inflation] in September, likely foreshadowing…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralRising fuel oil prices, linked to inflation and oil markets, may weigh on utility sectors.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Fuel oil rose 15.3% in September from the previous month.
- 02The year-over-year increase is 74.2%, according to the BLS.
- 03Oil supply disruptions from the Middle East and lost refining capacity are pushing prices higher.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Fidelity MSCI Utilities Index ETF54.44 USDMarket closedtoday +1.32%Neutral Invesco S&P 500 Equal Weight Utilities ETF75.01 USDMarket closedtoday +1.50%Neutral Virtus Reaves Utilities ETF76.20 USDMarket closedtoday +1.11%Neutral Tema Electrification ETF34.21 USDMarket closedtoday -1.10%Neutral Vanguard Utilities ETF182.41 USDMarket closedtoday +1.31%Neutral State Street Utilities Select Sector SPDR ETF42.21 USDMarket closedtoday +1.34%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets