Warm weather hopes hit oil prices
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Oil prices fall by more than $1 a barrel on forecasts that US weather will become milder in March.
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NEW YORK Crude oil prices are falling sharply as traders anticipate warmer weather in the US later in the week. Also pulling futures prices down are the weekend snowstorms in the Midwest that kept motorists off the road and planes grounded.
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Oil prices perked up from 7-week lows on  Friday on forecasts for colder-than-normal weather in the U.S.  Northeast.
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LONDON  - Oil prices rose in London as analysts gauged the impact on key markets of a possible dearth of US heating oil stockpiles during the northern winter.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in U.S. heating oil stocks as a blast of cold weather boosted demand in the world's top consumer.
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Oil prices surged 5 percent on Friday as frigid weather lingered in the mammoth US Northeast heating oil market and militant Osama bin Laden urged renewed attacks on Middle East oil installations.
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Crude oil futures are headed for their biggest weekly gain in 21 months on speculation cold weather may boost demand in the US Northeast, where 80 percent of the country&#39;s heating oil is used.
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Oil prices jumped nearly 2 percent on Tuesday as colder weather in the United States, the world&#39;s largest heating oil market, brought temperatures more in line with seasonal norms.
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Oil prices rose two per cent Tuesday on the back of a rally in heating oil futures that was supported by colder weather in the Western Hemisphere.
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Oil prices stabilise near $58 a barrel, influenced by warm US weather and Canadian refinery troubles.
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WASHINGTON -- Oil prices were steady yesterday as traders weighed forecasts calling for mild US weather next week against anticipated further cuts by OPEC.
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Oil prices fell on Thursday as forecasts  of mild U.S. weather prompted traders to take profits from a  rally that has added 30 percent to the cost of crude this year.
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Oil prices rose 2 percent yesterday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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Oil rose on Tuesday, adding to sharp gains made the previous session on expectations that a cold spell in the U.S. Northeast this weekend would boost demand in the world's biggest heating oil market.
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WASHINGTON -- Oil prices edged higher yesterday amid violence in Nigeria and concerns that OPEC may reduce output when it meets next week, but buying was kept in check by forecasts calling for warmer US weather next week.
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Forecasts for a warm winter may spell relief for households and businesses in the U.S. Northeast dealing with record high heating oil prices.
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Oil prices rose on Wednesday, boosted by  a looming cold front in the United States and production  glitches that have knocked around a million barrels daily from  the world's crude supply.