NYMEX crude opens 58 cents higher, led by resurgent heating oil

New York (Platts)--6Mar2007

April crude futures on the New York Mercantile Exchange opened 58 cents
higher at $60.65/barrel Tuesday, led by a resurgent heating oil market. April
heating oil opened 2.42 cents higher at $1.7490/gal as the Atlantic Coast was
clobbered by the arrival of sub-freezing temperatures just one week after an
Arctic blast blanketed the region.

The entire commodity sector has a steadier tone to it as a six-day drop
in global equity markets appeared to be arrested.

"Oil has shown a good resilience compared to base metals in the wake of
the equity market mini-crash," analysts at Societe Generale, said in a note to
clients. "Some profit-taking to finance margin calls is still likely," they
cautioned.

April RBOB opened 1.63 cents higher at $1.86/gal.

--Linda Rafield, linda_rafield@platts.com