Heating oil futures extended gains towards $2.2 per gallon, touching a 3-year high for the first time since July, amid tightening supplies ahead of the fall/winter season and concerns over extreme weather in the Mexican Gulf. Data from the API showed US distillate fuel inventories, which include diesel and heating oil, shrank by 2.9 million barrels in the week ending September 10th. Additionally, offshore platforms continued to struggle with supplying crude to the US mainland due to the passage of Hurricane Ida, while traders also looked to the gradual growth of another extreme weather event in the Gulf, namely tropical storm Nicholas.

Historically, Heating oil reached an all time high of 4.16 in July of 2008. Heating oil - data, forecasts, historical chart - was last updated on September of 2021.

Heating oil is expected to trade at 2.09 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.94 in 12 months time.

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Heating oil


Heating oil
Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to NYMEX Division New York harbor heating oil futures. The Heating Oil market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day % Weekly Monthly YTD Date
Crude Oil
USD/Bbl
72.6200 0.0200 0.03% 6.57% 9.06% 49.67% Sep/16
Brent
USD/Bbl
75.5200 0.0600 0.08% 5.70% 9.40% 45.79% Sep/16
Natural gas
USD/MMBtu
5.3600 0.1000 -1.83% 6.54% 39.69% 111.11% Sep/16
Gasoline
USD/Gal
2.2112 0.0046 0.21% 5.31% 2.11% 56.81% Sep/16
Heating oil
USD/Gal
2.2036 0.0017 -0.08% 4.25% 8.23% 48.49% Sep/16
Ethanol
USD/Gal
2.2070 0.0000 0.00% 0.00% -0.59% 54.01% Sep/15
Naphtha
USD/T
675.53 10.7740 1.62% 3.13% 4.33% 56.12% Sep/15
Propane
USD/Gal
1.26 0.0302 2.46% 5.99% 12.13% 95.23% Sep/15
Uranium
USD/Lbs
48.5500 3.6500 8.13% 20.62% 60.23% 58.14% Sep/15
Methanol
CNY
3,014.00 95.0000 3.25% 2.97% 12.42% 24.75% Sep/16

Metals Price Day % Weekly Monthly YTD Date
Gold
USD/t.oz
1,778.20 14.3900 -0.80% -0.92% -0.43% -6.24% Sep/16
Silver
USD/t.oz
23.510 0.3095 -1.30% -2.33% -0.53% -10.81% Sep/16
Platinum
USD/t.oz
937.27 9.7344 -1.03% -4.07% -6.01% -12.07% Sep/16

Agricultural Price Day % Weekly Monthly YTD Date
Soybeans
USd/Bu
1,300.2500 5.7500 0.44% 3.30% -5.02% -0.50% Sep/16
Wheat
USd/Bu
710.0000 2.2500 -0.32% 4.41% -3.34% 10.85% Sep/16
Lumber
USD/1000 board feet
454.40 16.6000 -3.52% -8.66% -3.50% -47.96% Sep/15
Palm Oil
MYR/T
4,438.00 98.0000 2.26% -0.89% -0.20% 23.28% Sep/15
Cheese
USD/Lbs
1.6490 0.0020 -0.12% -0.54% 3.52% 0.18% Sep/15
Milk
USD/CWT
16.58 0.0100 -0.06% -0.72% 2.66% 4.94% Sep/15
Rubber
JPY/Kg
194.00 1.9000 0.99% 4.81% -9.35% -27.83% Sep/16
Orange Juice
USd/Lbs
144.90 3.2500 2.29% 0.63% 10.32% 17.57% Sep/15
Coffee
USd/Lbs
188.00 3.6500 1.98% 0.13% 2.62% 46.59% Sep/15
Cotton
USd/Lbs
95.00 0.3300 0.35% 0.47% -0.73% 21.61% Sep/16
Cocoa
USD/T
2,663.00 40.0000 -1.48% -1.84% 2.15% 2.31% Sep/16
Rice
USD/cwt
13.7800 0.0100 -0.07% 5.35% 2.34% 12.58% Sep/16
Canola
CAD/T
880.40 0.6000 0.07% 3.25% -4.13% 39.86% Sep/16
Oat
USd/Bu
553.2500 18.0000 3.34% 14.37% 9.01% 53.36% Sep/16
Wool
AUD/100Kg
1,352.00 7.0000 0.52% -0.66% -1.46% 15.46% Sep/15
Sugar
USd/Lbs
19.61 0.0900 0.46% 1.92% -2.05% 26.60% Sep/16
Tea
USD/Kgs
3.28 0.0000 0.00% 2.82% 14.69% 14.29% Sep/15
Corn
USd/BU
535.2500 2.0000 0.37% 7.91% -4.12% 10.59% Sep/16

Livestock Price Day % Weekly Monthly YTD Date
Beef
BRL/Kg
20.45 0.1500 -0.73% 1.59% 1.24% 12.73% Sep/15
Feeder Cattle
USd/Lbs
155.5000 0.2250 0.14% -0.35% -1.08% 11.91% Sep/15
Live Cattle
USd/Lbs
124.0250 0.1000 -0.08% 0.75% 0.40% 7.82% Sep/15
Lean Hogs
USd/Lbs
82.0250 1.6500 2.05% -6.12% -7.84% 16.72% Sep/15
Poultry
BRL/Kgs
8.57 0.1200 1.42% 2.15% 2.51% 42.60% Sep/15

Industrial Price Day % Weekly Monthly YTD Date
Copper
USD/Lbs
4.3190 0.0845 -1.92% 0.83% 2.83% 22.73% Sep/16
Coal
USD/T
177.50 0.0500 0.03% 0.08% 2.36% 120.50% Sep/15
Steel
CNY/T
5,565.00 99.0000 1.81% -0.18% 6.53% 31.87% Sep/16
Iron Ore
USD/T
117.50 5.5000 -4.47% -11.32% -26.79% -25.87% Sep/15
Lithium
CNY/T
92,500.00 0.0000 0.00% 0.00% 0.00% 98.92% Sep/16
Bitumen
CNY/T
3,072.00 42.0000 1.39% 1.52% -1.60% 28.97% Sep/16
Cobalt
USD/T
51,500.00 0.0000 0.00% 1.30% -1.90% 59.99% Sep/15
Lead
USD/T
2,237.75 37.2500 -1.64% -3.88% -7.99% 13.26% Sep/15
Aluminum
USD/T
2,882.00 11.5000 -0.40% 1.64% 11.09% 45.50% Sep/16
Tin
USD/T
33,930.00 50.0000 -0.15% 2.23% -4.99% 67.02% Sep/16
Zinc
USD/T
3,073.00 2.0000 -0.07% -0.03% 2.40% 11.70% Sep/16
Nickel
USD/T
20,032.00 393.5000 2.00% 1.57% 2.74% 21.01% Sep/15
Molybdenum
USD/Kg
46.25 0.0000 0.00% 8.95% 8.95% 96.81% Sep/15
Palladium
USD/t.oz
2,031.54 28.6614 1.43% -6.76% -18.37% -17.00% Sep/16
Rhodium
USD/t oz.
11,800.00 2,200.0000 -15.71% -30.59% -37.89% -30.59% Sep/15
Gallium
CNY/Kg
1,925.00 0.0000 0.00% 0.00% 0.26% 10.63% Sep/15
Germanium
CNY/Kg
8,650.00 0.0000 0.00% 0.00% 2.37% 21.83% Sep/15
Manganese
CNY/T
34.50 0.0000 0.00% 0.00% 5.34% 10.40% Sep/15
Indium
CNY/Kg
1,700.00 0.0000 0.00% -5.56% 28.30% 42.86% Sep/15
Soda Ash
CNY/T
2,375.00 0.0000 0.00% 1.60% 8.57% 77.24% Sep/16
Neodymium
CNY/T
765,000.00 0.0000 0.00% 0.00% -1.92% 22.89% Sep/15
Tellurium
CNY/Kg
527.50 0.0000 0.00% 0.00% -3.65% 13.44% Sep/15
Iron Ore 62% fe
USD/T
124.16 3.9500 -3.08% -8.41% -25.63% -20.33% Sep/15

Index Price Day % Weekly Monthly YTD Date
CRB Index
Index Points
239.63 4.1800 1.78% 2.81% 4.41% 34.40% Sep/15
LME Index
Index Points
4,310.70 0.0000 0.00% 1.60% 1.43% 26.25% Sep/15
S&P GSCI
Index Points
2,671.24 54.3760 2.08% 3.27% 4.98% 35.12% Sep/15
Nuclear Energy Index
USD
1,416.06 0.1600 0.01% 0.73% 5.69% 12.71% Sep/16
Solar Energy Index
USD
419.18 7.4400 -1.74% -2.41% 7.15% -10.19% Sep/16
EU Carbon Permits
EUR
59.84 0.0200 -0.03% -4.64% 4.56% 82.89% Sep/16
Wind Energy Index
USD
355.27 2.1893 -0.61% -2.70% 0.75% -6.54% Sep/16