Heating Oil is down by 5.01%

Heating oil futures surged more than 8% above $4.0 per gallon on Monday, rebounding from last week’s losses after the US announced plans to block the Strait of Hormuz following stalled talks with Tehran. US Central Command said it will begin enforcing a maritime blockade on all vessels entering and leaving Iranian ports starting April 13, applying to ships of all nations accessing ports in the Arabian Gulf and Gulf of Oman, while transit through the Strait to non-Iranian ports will remain unaffected. Meanwhile, reports indicated that Donald Trump is considering renewed airstrikes on Iran after previously agreeing to a two-week ceasefire. These developments have renewed concerns that the conflict could persist longer than expected, heightening risks of deeper global supply disruptions and fueling fresh volatility in energy markets.

Heating Oil decreased 5.01% to 3.7396 USD/Gal

Heating oil futures fell 2.5% toward $3.83 per gallon on Friday, as prospects for a stronger ceasefire agreement in the Middle East improved. US President Trump signaled a degree of optimism ahead of the meeting between US and Iran delegations this weekend, while Israel moved toward a truce in Lebanon and Gaza. The developments reduced concerns over supply disruptions, particularly around key routes such as the Strait of Hormuz, prompting a further unwinding of the risk premium built earlier this week. Despite the daily decline, heating oil remains up about 50% since early March, supported by structurally tight refining capacity, while persistent geopolitical uncertainty continues to drive volatility.