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.