Sunday temperatures were in the mid to upper 60’s throughout most of Ohio. Breaking many high temperature records as Christmas is less than two weeks away. While this makes it easier to be outdoors, it also lessens energy demand for heating.
Although this is great for the pocketbooks of consumers heading into the holiday season. Oil companies are seeing a slower than normal December. Propane, heating oil, and natural gas are usually kicked into high gear buy December, although things are slugging along so far this year.
The weather is definitely not helping the general oversupply of the market. Gallons of Heating Oil that were projected to be used, may stay in storage a while longer. This warm stretch is helping blow Crude to new depths, as lower than normal demand is expected. Crude settled lower to $35.69 a barrel Friday.
Enjoy the weather while it lasts. Winter doesn’t officially end until March 18th.
