Oil Continues Its Slide, But Will It Last?

In the face of increasingly dire economic news at home and abroad, oil fell today to $104 a barrel. This is excellent news for the heating oil consumer as the heating season really begins in only 60 days or so.

The big question is will this slide last. Our bet is that it will- for a while, but long term we still think consumers should act as though this is only a temporary reprieve. Nothing fundamental has changed about the oil industry- demand is still growing albeit at a slower pace- and production as limited as it already is, might be cut by OPEC at any point.

There is much to smile about when it comes to the price of energy these days (who would think we would say that about $100+ oil?), but also much to be wary of.