A Cold Winter Has Kept Oil Prices from Tumbling to $30

On the first day of spring, the rearview mirror shows that the Northeast has experienced a colder than normal winter. Temperatures from October through February were 11% colder than the National Oceanic and Atmospheric Administration projected at the start of the heating season, 10% colder than the 10-year average, and 1% colder than last winter. The cold weather increased demand for distillate fuel for…