Warmer March Outlook
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Temperatures will be above normal in most parts of the United States through March, spelling a mild end to the winter heating season, private forecaster WSI Corp. said on Monday.
After deep cold in late January and into February that spiked demand for heating oil and natural gas, March temperatures will average above normal in all regions of the country except part of the South, WSI said.
“The warmer March outlook should help to keep gas inventories at or above the five-year average,” WSI said in a press release.
April will average warmer than normal in the Northeast and the Northwest, but cooler than normal in the middle of the country, WSI said in the release.
Winter weather can have significant impact on world oil prices by altering demand for heating fuels. A recent spell of frigid temperatures in the United States that began in late January pushed crude prices back near $60 a barrel.