Quite possibly this snowstorm could lift oil & gas out of its recent funk come the Monday open. "AccuWeather.com is forecasting this storm will have a longer lasting impact than just the snow it will deposit on the Northeast. In effect, this system will open up the gates that have been holding back the Arctic air for most of the past two months. The very cold air will funnel south, by the middle of next week it will reach the Central Plains, and even Texas and the Deep South will feel the chill. The Winter Center meteorologists are forecasting that the second half of February could be as cold as any February we have experienced in quite some time." http://headlines.accuweather.com/news-weather-headlines.asp http://www.cbsnews.com/stories/2006/02/11/national/main1307699.shtml
should not this thread be in misc futures ? thanks for the weather "tip" brrr ... its going to be a cold day !! hope the rest of the month is not like this
heating oil is used mostly in the northeast, which is supposed to get pretty warm over the next few days, so I wouldn't expect heating oil and crude to go up because of the weather. natural gas is used to heat in the midwest, so it may go up if a cold wave hits and there are supply shortages.