A combination of frigid weather, expectations of an improving economy and new tensions between Russia and Belarus catapulted crude oil prices above $81 a barrel on Monday. But most energy analysts said it was too soon to predict that prices would go much higher or even remain at current levels. Energy markets are beginning the year with a string of reports that could help push prices higher. Traders took reports of increased manufacturing activity and passenger car sales in December as signs that the economy was on the mend. Meanwhile, India reported a substantial increase in oil imports.
But most energy analysts said it was too soon to predict that prices would go much higher or even remain at current levels.
Energy markets are beginning the year with a string of reports that could help push prices higher. Traders took reports of increased manufacturing activity and passenger car sales in December as signs that the economy was on the mend. Meanwhile, India reported a substantial increase in oil imports.
The United States experienced its coldest winter in nine years in December as snow storms swept across the country, private weather forecaster Planalytics said on Monday. Every region in the United States trended colder than normal, Planalytics said, which helped boost energy prices as consumers nationwide turned up their heating. "Following the warmest November since 2001, the month of December 2009 ended the coldest since 2000," Planalytics said on Monday.
Every region in the United States trended colder than normal, Planalytics said, which helped boost energy prices as consumers nationwide turned up their heating.
"Following the warmest November since 2001, the month of December 2009 ended the coldest since 2000," Planalytics said on Monday.
