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DOE Loans 315,000 Barrels from Heating Oil Reserve

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Story summary
  • U.S. Department of Energy loaned up to 315,000 barrels of heating oil from the Northeast Home Heating Oil Reserve.
  • Deliveries are scheduled to finish by Nov. 13.
  • Heating oil averaged $6.14 per gallon the week of Oct. 12.
  • Sen. Susan Collins (R-Maine) said the loan adds a 13 percent supply boost for New England.
  • Borrowers must return the same oil volume before the next heating season.