The use of heating oil is 17 pct down in the Northeast (US) ... this would mean less demand and a downward push on prices.
Typically second quarter demand for crude usually declines so if OPEC doesn't cut supplies, it will add to the already bearish fundamentals.
Typically, second-quarter demand for crude usually declines, so if OPEC doesn't cut supplies, it will add to the already bearish fundamentals.
Fundamentally we should go down because of the demand outlook related to weather.
The IAEA meeting is paramount on investors' minds, because it has the potential to alter the demand supply equilibrium.
Slower U.S. growth may reduce growth in oil demand in the second half of the year. We are seeing proof of reduced U.S. consumer confidence.
As the winter season draws out to a close this quarter, the focus will be on gasoline stocks especially since demand has improved on-year.