Heating Oil Rises After EIA

2026-02-11 15:52 By Felipe Alarcon 1 min. read

US heating oil futures rose toward $2.44 per gallon after a volatile stretch as a tight distillate balance and rising crude feedstock costs offset weakening near term demand from milder weather and cheaper natural gas.

The latest EIA data showed a roughly 5.6 million barrel draw in distillate stocks, reinforcing that available supplies remain relatively constrained for this stage of the season.

At the same time, crude oil feedstock costs climbed amid renewed US-Iran tensions.

Elevated refinery runs have kept product flows steady, yet the market remains sensitive to inventory shifts.

On the demand side, milder temperature forecasts across key US heating regions are trimming expected heating burn, while weaker natural gas prices and rising drilling activity, are encouraging substitution away from fuel oil.

In addition, reports of a sharp crude stock build and signals from OPEC and the IEA that global supply could outpace demand later this year have limited upside.



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