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An Esso home heating fuel delivery truck is seen in Dartmouth, N.S. in this file photo.
An Esso home heating fuel delivery truck is seen in Dartmouth, N.S. in this file photo.
(Andrew Vaughan/THE CANADIAN PRESS)

ENERGY

Winter no longer fuels a seasonal oil price spike

Oil, by market reputation, is a seasonal commodity. Investors and consumers long ago got used to the idea that demand spikes in winter, as Northern Hemisphere heating needs jacked up consumption – running down oil inventories and pushing up prices.

Well, get un-used to the idea. The International Energy Agency says that’s a thing of the past; consumers have moved on, and they won’t be burning oil to heat up prices this winter.