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twitterFutures rise as snowstorm approaches East Coast
Monday, Feb. 28, 2005 | 9:34 a.m.
Crude oil futures rose for a third day on expectations cold weather in the U.S. Northeast may boost winter heating-fuel demand, depleting inventories.
Heating demand in the region, the biggest consumer of heating oil in the U.S., will be 14 percent higher than normal in the week ending March 4, Belton, Missouri-based Weather Derivatives Inc. said last week. Temperatures may be below average in the region from Saturday to March 13, according to a forecast on the U.S. National Weather Service Web site.
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