The eastern U.S. could experience above-average temperatures as mild air from the Gulf of Mexico pushes northward, according to AccuWeather. Consequently, the warmer outlook could sap energy heating demand in the month ahead.
Energy-related commodities were also rallying on speculation that Russia and the Organization of Petroleum Exporting Countries were in discussion on a possible plan to address the global supply glut, Reuters reports.
United States Diesel-Heating Oil Fund
Max Chen contributed to this article.