# Oil settles up 1% as cold weather in US, Europe drives winter fuel demand | Reuters

> Oil settled up about 1% as cold weather in the US and Europe boosted winter fuel demand. JP Morgan estimates that each degree Fahrenheit below the 10-year average adds roughly 113,000 bpd of heating oil demand across the US, Europe and Japan.

- Date: 2025-01-09 · published 2025-01-09T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10347-oil-settles-up-1-as-cold-weather-in-us-europe-drives-winter-fuel-demand-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Colder-than-normal weather raises heating oil and diesel demand, supporting crude and distillate prices. Higher energy costs feed through to feed mill and transport expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2025-01-15 | 5 | +11.3% | 3.2 | Cold weather in the US and Europe raised heating oil demand, a supportive demand factor for distillates. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-01-23 | [US energy sector braces for winter storm as crude and natural gas output fall \| Reuters](https://feedsoft.ai/events/4761-us-energy-sector-braces-for-winter-storm-as-crude-and-natural-gas-output-fall.md) | +9.6% | +12.3% |
| WTI | 2024-12-30 | [Oil rises on diesel demand boost in sparse holiday trade \| Reuters](https://feedsoft.ai/events/27157-oil-rises-on-diesel-demand-boost-in-sparse-holiday-trade-reuters.md) | +4.2% | +4.2% |
| WTI | 2021-02-15 | [Oil hits pandemic high as winter storm pushes demand and poses production risk](https://feedsoft.ai/events/48835-oil-hits-pandemic-high-as-winter-storm-pushes-demand-and-poses-production-risk.md) | +3.6% | +9.9% |
| WTI | 2026-01-16 | [Oil prices rise as supply risk remain in focus](https://feedsoft.ai/events/11394-oil-prices-rise-as-supply-risk-remain-in-focus.md) | +2.8% | +6.5% |
| WTI | 2020-08-28 | [-Oil prices dip as producers, refiners avoid worst of hurricane \| Reuters](https://feedsoft.ai/events/51781-oil-prices-dip-as-producers-refiners-avoid-worst-of-hurricane-reuters.md) | -3.6% | -6.5% |
| BRENT | 2024-12-30 | [Oil rises on diesel demand boost in sparse holiday trade \| Reuters](https://feedsoft.ai/events/27157-oil-rises-on-diesel-demand-boost-in-sparse-holiday-trade-reuters.md) | +3.8% | +4.4% |
| BRENT | 2021-02-15 | [Oil hits pandemic high as winter storm pushes demand and poses production risk](https://feedsoft.ai/events/48835-oil-hits-pandemic-high-as-winter-storm-pushes-demand-and-poses-production-risk.md) | +0.7% | +10.6% |
| BRENT | 2026-01-16 | [Oil prices rise as supply risk remain in focus](https://feedsoft.ai/events/11394-oil-prices-rise-as-supply-risk-remain-in-focus.md) | -0.3% | +5.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-extend-losses-rising-us-fuel-inventories-2025-01-09/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.