AccuWeather.com reports a cold wave with no end in site is penetrating the entire eastern half of the U.S., and parts of Europe and Asia are supporting crude oil demand increases.
"Temperatures may warm up later this week for North-Central China and the Korean Peninsula, but will come back below normal next week," said AccuWeather.com Expert Senior Meteorologist Jim Andrews.
The United States will continue to see frigid conditions. Temperatures close to normal could be seen in coming weeks, but the chill will return.
"A winter like this may have temperatures warming to normal occasionally, but extreme weather will reload and come back even colder," said AccuWeather.com Chief Meteorologist and Expert Long-Range Forecaster Joe Bastardi.
Andrews said the weather pattern around Greenland is responsible for the cold burst, encompassing a massive portion of the United States and will continue to affect Europe.
Oil prices have held near $82 a barrel Tuesday and the past two weeks have shown a 12 percent increase, with heating oil costs up 20 cents per gallon from last December.
While heating oil prices are up from 2008, the prices have fallen from earlier this month. Weather-related shortages were reported in the mid-Atlantic region after 2 feet of snow pummeled the Washington, D.C., metro area.
Analysts expect that cold temperatures could cause the country's heating oil demand to jump 21 percent above normal.
As for gasoline prices, when global oil prices are rising, gas prices are expected to climb as well.
Story by AccuWeather.com Writer Carly Porter
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