Managing the risk associated with physical crude oil and refined products is more important than ever, given today's high and volatile prices. To achieve optimal risk management, addressing weather risk is essential.

Amongst all the complexities and eccentricities of the oil markets – from Opec production constraints, to freight risk and refinery heterogeneity, to illogical pricing and uncertain demand – there is one factor which often dictates rather logically the use of energy – the weather.

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