Colder Winter = Oil Prices Heat Up

Despite oil's recent rally into record highs, the U.S. Energy Information Administration (EIA) predicted that "increased supply and lower seasonal crude demand in the United States" will likely lead to "crude prices easing slightly over the winter" in its monthly Short-Term Energy Outlook report.

While the EIA's research seems to suggest lower prices for consumers at the pump, the report was far less positive for consumers of U.S. heating oil. Prices for this commodity are expected to increase sharply due to "colder winter" conditions predicted by the government. Americans who utilize natural gas to heat their homes should anticipate increases as well.

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