In many parts of the country, heating oil theft continues to be a very big problem. In fact, this is a crime that seems to be on the increase as every year passes. The main reason why this is the case is because the criminals know that they are facing very little risk with this crime. And with the cost of heating oil rising all the time, there is plenty of money for the criminals to be made from a crime like this.

Cold weather requires that a home have a good system for delivering heat. In warmer locations, heaters are often electric because the need is less often. In colder areas, however, the need for adequate warmth depends on natural gas or heating oil. Often, the prices established for either of these options vary greatly. Therefore, it is best to follow some tips on how to get the most power for its price.

September heating oil began the Thursday evening trade with a higher open, and it has continued to grind higher this morning. Some traders indicated that the heating oil market seemed to detract from crude oil strength during Thursday’s session as it contended with its own set of fundamentals. The Midwest diesel market faces a drop in planting season demand, and that seasonal trend is expected to continue into the fall. This weighed on cash markets, and it could be a factor limiting gains in heating oil prices.

A coalition of oil-using industries has written to Congress calling for the implementation of new rules to help end oil price volatility in commodity markets.

On the one-year anniversary of the Dodd-Frank financial reform act being signed, the group, which includes heating oil dealers, airlines and other commodity-dependent businesses, urged Congressional leaders to move forward with regulations to rein in the derivatives trading markets.

September heating oil prices traded lower during the early morning hours, partly due to reports of a larger than expected distillate inventory build and from outside market weakness. Some traders indicated that industry reports after the close yesterday that showed a larger than expected increase pressured the hearing oil market lower. Expectations for this morning’s EIA inventory report are for a build in distillates of around 1.75 million barrels.

Energy shares are mixed in mid-day trading as crude oil futures lose prior-session steam to trade below $98 a barrel at the New York Mercantile Exchange.

Light, sweet crude for September delivery is trading down 0.21% to $97.20 a barrel. In other energy futures, heating oil is up 0.53% to $3.09 a gallon while natural gas is down 1.74% to $4.24 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.09% to $37.94. The United States Natural Gas ETF ( UNG ) is down 1.88% at $10.73.

Oil prices declined 1.95% against the USD for the 24 hour period ending 23:00GMT, closing at 97.26, after the report showed an increase in crude oil inventories.

In the US, the Energy Information Administration reported that oil inventories rose 2.3 million barrels in the week ended July 22. Gasoline inventories rose 1 million barrels, while supplies of distillates, which include heating oil and diesel, increased by 3.4 million barrels.

Energy shares are feeling the weight of slipping crude prices in mid-day trading with the June contract falling more than 1%. Oil prices and sector stocks are down due to continued concern over the European debt situation and weak housing data.

Forex Pros – Natural gas futures extended losses on Thursday, tumbling to a five-week low after the U.S. Energy Information Administration said natural gas inventories rose more-than-expected last week.

On the New York Mercantile Exchange, natural gas futures for July delivery traded at USD4.187 per million British thermal units during U.S. morning trade, tumbling 3.05%.

The US petroleum wholesale distribution industry includes about 5,700 companies with annual revenue of about $750 billion. Revenue can vary significantly from year to year with the price of crude oil. Major companies include Getty Petroleum Marketing, Global Partners, Mansfield Oil, Statoil Marketing & Trading, and World Fuel Services. The industry is concentrated: the 50 largest companies generate more than 70 percent of revenue.