US plans sale of heating oil reserve stocks

摘要

Washington-The US Department of Energy said February 1 it will convert the 2 million barrels in its Northeast Home Heating Oil Reserve stocks to ultra low sulfur distillates to comply with "new, more stringent fuel stan dards" by some Northeastern states. The sale of the reserve's current stocks wi begin February 3 and the reserve will not be replenished with lower-sulfur fuel oil until the summer, when prices will presumably be lower The DOE said it has determined it is safe to operate without a Northeast Home Heating Oil Reserve for the remainder of the winter because there is enough oil in the New Englan and New York markets to meet the expected demand, spokeswoman Jenny Hakun said.