Prices were pressured after the U.S. National Weather Service said heating demand in the United States is expected to be around 25 percent lower than normal this week as mild weather persists in the key Northeast and Midwest heating oil consumer regions.
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Oil Stable on $62 on US Shipments Delays
Oil steadied at $62 a barrel on Tuesday as continued weather delays to U.S. crude shipments could hit inventory levels
Oil steadied at $62 a barrel on Tuesday as continued weather delays to U.S. crude shipments could hit inventory levels, balancing mild temperatures in the world's top consumer that are cutting into heating fuel demand.
U.S. light January crude was 4 cents higher at $62.25 a barrel, after falling $1.22 on Monday, the first drop in four sessions.
London's Brent for February gained 13 cents to $62.26 on ICE Futures.
Prices were pressured after the U.S. National Weather Service said heating demand in the United States is expected to be around 25 percent lower than normal this week as mild weather persists in the key Northeast and Midwest heating oil consumer regions.
Prices were pressured after the U.S. National Weather Service said heating demand in the United States is expected to be around 25 percent lower than normal this week as mild weather persists in the key Northeast and Midwest heating oil consumer regions.
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