4 Companies to Suspend Heating Oil Exports

Four companies have agreed to temporarily halt exports of heating oil from the U.S. because of low supplies, Energy Secretary Bill Richardson said. Shell Oil Co., Amerada Hess Corp., Motiva Enterprises and Equiva Trading Co., which represent less than 10% of U.S. refining capacity, voluntarily agreed to keep their heating oil in the U.S. “based on the current market situation,” Richardson said. Heating oil for November delivery fell 6.12 cents, or 5.7%, to $1.0161 a gallon on the New York Mercantile Exchange, the biggest one-day drop since March.