EIA Forecasts 21% Rise in Heating Oil Bills for Hardest Hit US Homes

Commodities14 days ago

About 3% of U.S. households, concentrated mostly in the Northeast, will see the steepest increase in winter energy costs of any residential heating category. The Energy Information Administration (EIA) projects that these homes will pay approximately 21% more for fuel this winter than last, as a forecasted 30% rise in heating oil prices is partially offset by predictions of milder weather in the Northeast.

This forecast follows severe regional price jumps, with heating oil costs in Maine already up 80% compared to the previous year. The EIA indicates that heating oil users will face the largest surge in winter energy expenditures of any U.S. household heating source as seasonal demand increases.

Mapped to your portfolio

Possible scenarios

45%Prolonged winter squeeze-0.1%
25%Relief measures contain costs+0.1%
20%Export curbs intensify-0.6%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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EIA Forecasts 21% Rise in Heating Oil Bills for Hardest Hit US Homes

In this story

Energy Information Administration United States Northeastern United States Maine

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

45%Prolonged winter squeeze-0.1%
25%Relief measures contain costs+0.1%
20%Export curbs intensify-0.6%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.