OGJ Newsletter

12/20/2004
Market MovementCold weather drives up energy pricesThe first cold weather of the US winter blew into the Midwest and Northeast on Dec. 13-14, pushing up prices for heating oil in the world's biggest market for that commodity and pulling up other energy prices with it.Indications that lower-than-normal temperatures might linger longer than was first expected helped establish heating oil as a market leader, said analysts. But some traders awaited the Dec. 15 release of weekly inventories of US crude and petroleum products to set the tone of trading for the rest of that week.The US Energy Information Administration reported then that commercial crude inventories dipped by 100,000 bbl to ...
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