NATION

NATION
Heating costs projected to be higher than last winter
WASHINGTON -- Residential heating costs are projected to soar this winter to more than $1,000 on average because of higher fuel costs and expected colder weather, the government said Wednesday.
People will pay on average an additional $133 to $270 to heat their homes when compared with last winter, which also was seen as an unusually expensive heating season, the Energy Department said.
In areas with severe weather or a sudden spike in demand, costs could increase several hundred dollars beyond that, according to the forecast. No shortages were predicted.
The Energy Department said that heating oil users will see the sharpest increase with an average heating bill of $1,223 for the season, compared with $953 last year. That comes to a 28 percent increase.
But natural gas customers will be hit as well. They are forecast to pay $1,003, compared with $870 last year, an increase of 15 percent. Users of propane are expected to see a 21 percent increase to $1,396 for the heating season.
WORLD
Crude oil hits record high
SINGAPORE -- Crude oil reached a new high in Asian trade today, hitting $52.23 per barrel as the market took stock of reports of a possible strike in Nigeria and the sluggish revival of output in key Gulf of Mexico oil fields following hurricane damage.
After settling at a record $52.02 per barrel Wednesday in New York, crude for November delivery on the New York Mercantile Exchange reached its new high in early morning Asian trade.
The U.S. Energy Department said Wednesday that oil demand was growing and high consumption in economies like China will not ease. The world's limited excess oil-production capacity, or supply buffer, is hovering around 1 percent. As a result, fears of supply disruptions in Russia, Venezuela and Nigeria have pushed prices higher for several months.
Associated Press