Heating oil extended gains in February, trading above $1.87 per gallon for the first time since January last year in the aftermath of last week’s deep freeze. US supply constraints remained in focus following a violent winter blast in Texas and Plains states that forced the shut down of wells and processing plants.

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 February of 2021.

Heating oil is expected to trade at 1.83 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 1.60 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
 63.3000 0.08 0.13% 4.58% 20.32% 30.46% Feb/25
Brent
USD/Bbl
 66.6500 0.39 -0.58% 4.25% 19.21% 28.67% Feb/25
Natural gas
USD/MMBtu
2.7650 0.03 -1.07% -10.29% 4.89% 8.90% Feb/25
Gasoline
USD/Gal
 1.8889 0.01 -0.35% 5.27% 19.50% 33.96% Feb/25
Heating oil
USD/Gal
 1.9001 0.01 -0.43% 3.47% 18.88% 28.04% Feb/25
Ethanol
USD/Gal
 1.6900 0.00 0.00% 0.00% 10.46% 17.93% Feb/25
Naphtha
USD/T
 556.09 1.93 0.35% 1.27% 11.32% 28.52% Feb/24
Propane
USD/Gal
 0.92 0.00 0.21% 0.26% 5.16% 41.87% Feb/24
Uranium
USD/Lbs
 28.6000 0.00 0.00% -3.21% -5.77% -6.84% Feb/24

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
 1,772.27 32.09 -1.78% -0.18% -4.22% -6.55% Feb/25
Silver
USD/t.oz
 27.444 0.54 -1.92% 1.59% 7.87% 4.12% Feb/25
Platinum
USD/t.oz
 1,219.91 48.59 -3.83% -4.28% 11.08% 14.44% Feb/25

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
 1,405.2500 17.00 -1.20% 2.27% 2.59% 6.74% Feb/25
Wheat
USd/Bu
 670.0000 10.25 -1.51% 1.13% 0.71% 4.61% Feb/25
Palm Oil
MYR/T
 3,723.00 72.00 1.97% 6.71% 13.99% 3.42% Feb/25
Cheese
USD/Lbs
 1.5830 0.00 0.13% 0.13% -4.87% -3.83% Feb/25
Milk
USD/CWT
 15.65 0.06 0.38% 0.19% -2.98% -0.95% Feb/25
Rubber
JPY/Kg
 278.00 5.20 1.91% 9.97% 18.25% 3.42% Feb/25
Orange Juice
USd/Lbs
 108.00 3.90 -3.49% -1.23% -7.06% -12.37% Feb/25
Coffee
USd/Lbs
 139.30 1.55 1.13% 9.17% 11.89% 8.62% Feb/25
Lumber
USD/1000 board feet
 1,009.00 1.80 -0.18% 0.45% 18.00% 15.57% Feb/25
Oat
USd/Bu
 361.5000 5.75 -1.57% 2.34% 1.90% 0.21% Feb/25
Wool
AUD/100Kg
 1,310.00 0.00 0.00% -0.38% 8.99% 11.87% Feb/24
Cotton
USd/Lbs
 89.90 2.43 -2.63% 1.32% 10.02% 15.08% Feb/25
Cocoa
USD/T
2,705.00 55.00 2.08% 5.75% 6.29% 3.92% Feb/25
Rice
USD/cwt
 12.8000 0.07 -0.54% 0.55% -3.80% 4.58% Feb/25
Canola
CAD/T
 772.70 28.00 -3.50% 2.90% 11.47% 22.75% Feb/25
Sugar
USd/Lbs
 17.90 0.26 -1.43% 2.23% 13.72% 15.56% Feb/25
Tea
USD/Kgs
 2.86 0.00 0.00% -19.44% -8.63% -0.35% Feb/24
Corn
USd/BU
 554.0000 5.25 -0.94% 0.68% 4.09% 14.46% Feb/25

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
 19.22 0.22 1.16% -1.79% 0.00% 5.95% Feb/24
Poultry
BRL/Kgs
 6.06 0.02 -0.33% -6.05% -1.46% 0.83% Feb/24
Feeder Cattle
USd/Lbs
 140.5000 0.13 0.09% 1.50% 2.89% 1.12% Feb/25
Lean Hogs
USd/Lbs
 89.9500 0.53 0.59% 5.92% 27.68% 28.00% Feb/25
Live Cattle
USd/Lbs
 116.8000 0.23 0.19% 1.45% -0.17% 1.54% Feb/25

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
 4.2455 0.04 -0.88% 8.35% 17.10% 20.68% Feb/25
Lithium
CNY/T
 67,500.00 0.00 0.00% 0.00% 18.42% 45.16% Feb/25
Bitumen
CNY/T
 3,276.00 120.00 3.80% 4.07% 27.47% 37.53% Feb/25
Steel
CNY/T
 4,511.00 12.00 0.27% 5.05% 8.28% 6.90% Feb/24
Coal
USD/T
 80.25 1.72 2.19% 5.20% -6.96% -1.19% Feb/25
Palladium
USD/t.oz
 2,401.43 34.75 -1.43% 2.12% 3.30% -1.89% Feb/25
Cobalt
USD/T
 51,800.00 800.00 1.57% 7.92% 29.37% 60.92% Feb/24
Lead
USD/T
 2,105.75 4.75 0.23% 0.54% 3.85% 6.58% Feb/24
Aluminum
USD/T
 2,227.75 64.75 2.99% 4.93% 10.48% 12.47% Feb/25
Tin
USD/T
 27,247.50 377.50 1.40% 8.44% 19.35% 34.13% Feb/25
Zinc
USD/T
 2,902.75 33.50 1.17% 0.93% 9.40% 5.52% Feb/25
Nickel
USD/T
 19,661.00 352.00 1.82% 5.03% 8.01% 18.77% Feb/24
Molybdenum
USD/Kg
 26.50 0.00 0.00% 0.00% 6.00% 12.77% Feb/24
Iron Ore
USD/T
 172.00 2.00 -1.15% 7.84% 1.78% 8.52% Feb/24
Soda Ash
CNY/T
 1,536.00 70.00 4.77% 12.94% 13.78% 14.63% Feb/25
Neodymium
CNY/T
 782,500.00 20,000.00 2.62% 10.21% 10.21% 25.70% Feb/24
Iron Ore 62% fe
USD/T
 165.0200 0.49 0.30% 0.26% -2.65% 5.89% Feb/25
Rhodium
USD/t oz.
 24,400.00 500.00 2.09% 7.96% 22.00% 43.53% Feb/24
Manganese
CNY/T
 31.25 0.00 0.00% 0.00% 0.00% 0.00% Feb/24

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
 207.36 2.79 1.37% 3.42% 11.87% 16.30% Feb/24
LME Index
Index Points
 3,985.50 46.40 1.18% 7.79% 13.30% 16.72% Feb/24
S&P GSCI
Index Points
 2,353.48 39.16 1.69% 3.41% 13.31% 19.05% Feb/24