As Winter Storms Come, Heat Prices slightly Elevate.

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Heating oil and natural gas prices increased on Wednesday as another hard hitting winter storm come barging toward the Northeast. The outline has been in place throughout one of the snowiest winters on record as a glut of supply is more than capable of meeting demand.

"Heating oil is not responding to the weather, natural gas has been lower all winter," said oil trader and analyst Stephen Schork.

Almost 2 feet of snow has fallen over parts of New York over the past day, while at least a foot has hit an area from Pennsylvania to New England. A foot or more is on the way for much of the region. About 80 percent of all heating oil in the U.S. is consumed in the Northeast, yet prices have been remained fairly level over the winter despite the exceptional cold and snow. Huge stockpiles of natural gas, used to heat about half of the nation's homes, have been cut dramatically, but prices continue to stay low.

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