[KwasiOwusu]

"Oh, no. I'd hate to live here in Michigan when it isn't!."

We have had some pretty cold spells in New York too, but we continue to have days when its not that cold at all, like today.
In fact one of the reasons why oil prices have come down like they have, from $55 to today's $44 been because of the higher then expected Winter temperatures that we have had so far.
Its all relative isn't it?

[steve86]

I understand why local weather affects the price of heating oil for regional delivery but not why it should affect worldwide crude prices much if at all. I just don't think that stands up to any kind of analysis.

[M. Espinola]

I know what your saying about NY weather, but it is the market panic effect, plus sudden, renewed bullish speculation which could really jack up the price of energy.