Heating Oil Tumbles After EIA

2026-02-25 15:54 By Felipe Alarcon 1 min. read

US heating oil futures tumbled below $2.6 per gallon on Wednesday, accelerating their retreat from recent three-month highs seen February 24th as massive inventory builds outweighed geopolitical risk premiums.

The latest EIA data revealed a staggering 15.99 million barrel surge in US crude oil stocks for the week ending February 20th, the largest build in three years.

Simultaneously, distillate inventories shifted from a sharp draw to a 252 thousand barrel increase.

Combined with forecasts for above average temperatures across the Western US, the outlook for heating demand remains weak as the winter season nears its end.

While tensions persist following President Trump’s accusations regarding Iran’s nuclear program, the sheer volume of domestic stockpiles has provided a significant buffer against potential supply disruptions in the Strait of Hormuz.



News Stream
Heating Oil Tumbles After EIA
US heating oil futures tumbled below $2.6 per gallon on Wednesday, accelerating their retreat from recent three-month highs seen February 24th as massive inventory builds outweighed geopolitical risk premiums. The latest EIA data revealed a staggering 15.99 million barrel surge in US crude oil stocks for the week ending February 20th, the largest build in three years. Simultaneously, distillate inventories shifted from a sharp draw to a 252 thousand barrel increase. Combined with forecasts for above average temperatures across the Western US, the outlook for heating demand remains weak as the winter season nears its end. While tensions persist following President Trump’s accusations regarding Iran’s nuclear program, the sheer volume of domestic stockpiles has provided a significant buffer against potential supply disruptions in the Strait of Hormuz.
2026-02-25
US Heating Oil Futures Fall from 3-Month High
Heating oil futures in the US fell to $2.64 per gallon, retreating from the three-month high of nearly $2.7 reached on February 24, as warmer weather forecasts reduced demand expectations. Updated projections show above average temperatures across much of the western United States through the end of the month, lowering the need for heating as winter draws to a close and limiting the risk of a late season cold spell tightening supplies. At the same time, geopolitical tensions remain in focus after Donald Trump said Iran is rebuilding its nuclear program, fueling speculation about possible military action. Any escalation could threaten flows through the Strait of Hormuz, a key route for roughly a quarter of global seaborne oil and LNG shipments.
2026-02-25
Heating Oil Hits Almost Two-Year High
Heating oil futures in the US rose past $2.70 per gallon, hitting their highest level since April 2024, as a severe winter storm sweeping the Northeast has boosted forecasts for short-term heating demand. The storm, the strongest in a decade, caused travel chaos, school and business closures, and kept millions indoors. While the snowfall eased in parts of the region, the National Weather Service warned of another system likely to bring more snow later this week. Meanwhile, investors watched a new round of US-Iran talks, with Trump favoring a deal but warning of serious consequences if negotiations fail. Concerns over Middle East tensions and supply disruptions have also supported prices recently. Last week, EIA data showed a 4.6 million-barrel drop in distillate inventories, far exceeding the expected 1.4 million-barrel decline.
2026-02-24