The seasonal effect of cold weather, stronger demand for heating oil, will pull higher the whole energy complex higher.

Supplies of heating oil are very low compared to other supplies of energy commodities.

The report was a big surprise. Crude oil seems very ample.

Right now the market supply for oil is tight.

The period of forecasted warm weather in the United States has been extended to the first four weeks of the new year. This has driven the price of all energy commodities down.

Now that the weather forecast has changed to predict warmer weather, the prices have come down quite significantly.