Cold Weather Finally Arises, which Could Help Balance Inventories

In 2016 WTI crude oil prices have experienced a $20 range capped at $53 with a floor near $33, and since the spring the bottom end of the range has moved higher to $43 per barrel.  While the driving season was a success, the heating season got off on the wrong foot with warmer than expected weather driving heat cracks lower as distillate inventories hit multi-year highs.  Winter weather is…