Latest news with #heatingoil
Globe and Mail
17 hours ago
- Business
- Globe and Mail
Star Group, L.P. to Host Fiscal 2025 Third Quarter Webcast and Conference Call August 7, 2025
STAMFORD, Conn., July 31, 2025 (GLOBE NEWSWIRE) -- Star Group, L.P. (the 'Company' or 'Star') (NYSE: SGU), a leading home energy distributor and services provider, today announced that it will release its fiscal 2025 third quarter results after the close of trading on August 6, 2025. Members of Star's management team will host a webcast and conference call at 11:00 a.m. Eastern Time the following day, August 7, 2025, to review the three and nine months ended June 30, 2025. The webcast will be accessible on the company's website, at and the telephone number for the conference call is 888-346-3470 (412-317-5169 for international callers). About Star Group, L.P. Star Group, L.P. is a full service provider specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The Company also sells and services heating and air conditioning equipment to its home heating oil and propane customers and, to a lesser extent, provides these offerings to customers outside of its home heating oil and propane customer base. Star also sells diesel, gasoline and home heating oil on a delivery only basis. We believe Star is the nation's largest retail distributor of home heating oil based upon sales volume. Including its propane locations, Star serves customers in the more northern and eastern states within the Northeast and Mid-Atlantic U.S. regions. Additional information is available by obtaining the Company's SEC filings at and by visiting Star's website at where unit holders may request a hard copy of Star's complete audited financial statements free of charge. Forward-Looking Information This news release includes "forward-looking statements" which represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including the impact of geopolitical events on wholesale product cost volatility, tariff regimes, including newly imposed U.S. tariffs and any additional responsive non-U.S. tariffs or additional U.S. tariffs, the price and supply of the products that we sell, the price and supply of the products that we sell, our ability to purchase sufficient quantities of product to meet our customer's needs, rapid increases in levels of inflation, the consumption patterns of our customers, our ability to obtain satisfactory gross profit margins, the effect of weather conditions on our financial performance, our ability to obtain new customers and retain existing customers, our ability to make strategic acquisitions, the impact of litigation, natural gas conversions and electrification of heating systems, pandemic and future global health pandemics, recessionary economic conditions, future union relations and the outcome of current and future union negotiations, the impact of current and future governmental regulations, including climate change, environmental, health, and safety regulations, the ability to attract and retain employees, customer credit worthiness, counterparty credit worthiness, marketing plans, cyber-attacks, global supply chain issues, labor shortages and new technology, including alternative methods for heating and cooling residences. All statements other than statements of historical facts included in this Report including, without limitation, the statements under 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and elsewhere herein, are forward-looking statements. Without limiting the foregoing, the words 'believe,' 'anticipate,' 'plan,' 'expect,' 'seek,' 'estimate,' and similar expressions are intended to identify forward-looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to, those set forth under the heading "Risk Factors" and "Business Strategy" in our Annual Report on Form 10-K (the "Form 10-K") for the fiscal year ended September 30, 2024. Important factors that could cause actual results to differ materially from the Company's expectations ("Cautionary Statements") are disclosed in this news release and in the Company's Form 10-K and our Quarterly Reports on Form 10-Q. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the Cautionary Statements. Unless otherwise required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this news release.
Bloomberg
21-07-2025
- Business
- Bloomberg
Winter Is Coming for Oil — And Not in a Positive Way
The oil market is deceptively calm. Below the apparent tranquility lies an underappreciated transformation that has slowly reshaped the market over the last 25 years — because the arrival of China and India as big consumers hasn't just given an enormous boost to demand, it's also altered the market's seasonality. And that matters a lot this year. Until recently, global oil demand peaked every year with the arrival of the Northern Hemisphere's winter. As temperatures dropped from October onward, heating oil and kerosene consumption spiked from the US to Germany to Japan. Hence, as recently as 2014, the fourth quarter still marked the annual high for crude demand and, typically, prices. Since then, the seasonality has flipped: Now, the third quarter sees higher demand and prices. The shift means the market is now at its tightest from July to September, rather than October to December. While one-time events can still have an effect — the 2008 global financial crisis, for example, or the Covid-19 pandemic that started in early 2020 — looking over a long enough timescale reveals the change clearly. Because it happened incrementally over a quarter of a century, it often doesn't get the attention it deserves. But the chart below makes it obvious.
Reuters
02-06-2025
- Business
- Reuters
Trump budget proposes closing Northeast heating oil reserve
WASHINGTON, June 2 (Reuters) - President Donald Trump's budget proposes to shut as soon as in a few months the Northeast Home Heating Oil Reserve, which stores 1 million barrels of diesel and was designed to protect consumers. The reserve, created in 2000 by former President Bill Clinton, holds enough for roughly 10 days of heating homes. It has not been tapped since 2012, when it provided fuel to emergency responders in the aftermath of Hurricane Sandy. The proceeds of a sale of the ultra-low sulfur diesel in fiscal year 2026 would go to U.S. deficit reduction, the proposal said. At current prices, revenues from a sale would be about $86 million, but closing the facility could save on maintenance costs. U.S. budget proposals lay out an administration's policies, and what lawmakers ultimately adopt often differs from White House requests. Trump's predecessor, former President Joe Biden, had proposed in November, 2022 to expand the reserve as a protection against spikes in heating oil prices and inflation after Russia's full-scale invasion of Ukraine boosted energy prices. That plan, never put in place, would have funded purchases from the reserve from revenue from sales from the Strategic Petroleum Reserve, the world's largest emergency stockpile of crude oil. The Department of Energy did not immediately respond to a request for comment about the proposal to close the heating oil reserve.
