Energy prices fluctuate with weather and supplies

11/28/2005
Energy prices seesawed up one day, down the next Nov. 11-17 as traders reacted to changes in weather and reports of US petroleum inventories. Prices rebounded Nov. 16 as reports of major declines in US stocks of crude and gasoline during the week ended Nov. 11 undermined previous speculation of demand destruction because of high costs to consumers.But then the New York front-month crude futures contract plunged to a 5-month low on Nov. 17 with a separate report of more natural gas injected into US storage, signaling ample supply for the winter heating season.Demand destruction questioned“Total refined product demand rose by about 400,000 b/d, or 2%, [in the week ended Nov. 11], due ...
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