Sunday, November 1, 2009

Oil Market Braces against Chill in the Air

Today was the first day cold enough in New York to require a coat. As we head into the Northern Hemisphere Winter chill it is worth putting seasonal heating in perspective.

The oil market splits the year into two seasons for heating purposes.
Winter is considered November through March. Summer is April through October.

The largest heating oil market in the World is in Western Europe followed by the US Northeast. Heating oil demand in Canada, Japan and Korea is also significant.

Winter Heating Oil Demand
(Click image to enlarge. Source: Oil 101, Table 13-2, Page 282)
Follow @CommodityMD