Oil prices rose more than $1 on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season.
by 5%-7% in early 2023 as it responds to price caps on its crude and oil products by halting sales to the countries which support them, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.
On Thursday, oil prices on both sides of the Atlantic settled lower as flights were scrapped. The snow storm could also upend motorists' plans to travel during Christmas and New Year, curbing gasoline consumption. "As U.S. crude oil inventories fall and winter storms hit the U.S., cold temperatures are expected to extend southward to Texas, Florida, and the eastern states. Demand for heating oil will soar," Leon Li, an analyst at CMC Markets, said.
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Texas power grid meeting high demand during arctic blast, peak demand expected FridayAs of Thursday evening the Texas power grid has been able to handle the high demand caused by the blast of cold arctic air across the state.
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D.C.-area forecast: Heavy rain today, Arctic blast FridayThere is some chance of a flash freeze and slick roads Friday morning.
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Arctic air moves in tomorrow, bitter cold expected Friday!This is the time to prepare for the arctic air and winterize your home.❄️ winter severewx texaswx houwx kprc2 click2houston
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