16.12.2021
Market commentary heating oil 16.12.21
After the emergence of the new Covid variant Omicron, oil prices plummeted quite significantly at the end of November. However, the renewed panic on the pandemic front has since subsided.
Since then, prices have been moving in an almost boring sideways channel. In contrast, conditions for the delivery of liquid fuel are quite turbulent: persistently cold temperatures, rising gas prices, and the upcoming increase in the CO₂ tax have led to a veritable run on heating oil domestically, resulting in corresponding delivery bottlenecks.