Heating Oil Falls on Revived Ceasefire Talks

2026-04-14 01:11 By Kyrie Dichosa 1 min. read

Heating oil futures went down over 1% to below $3.80 per gallon on Tuesday, giving back part of the prior session’s gains as prospects of revived US–Iran talks returned.

US Vice President JD Vance said progress now hinges on Tehran after weekend negotiations failed to produce a breakthrough, stating the “ball is in the Iranian court” following Washington’s proposal, and that a deal remains possible if US nuclear conditions are satisfied.

President Donald Trump also said Iran had made contact through channels, while President Masoud Pezeshkian said Tehran is open to talks so long as they comply with international law.

The move came after the US started a blockade of Iranian ports in the Persian Gulf on Monday, which threatens oil shipments through the Strait of Hormuz, averaging about 1.7 million barrels per day last month.

Meanwhile, an OPEC report showed Gulf Arab output declined sharply in March amid disruptions, heightening concerns that recovery could take longer than expected.



News Stream
Heating Oil Falls on Revived Ceasefire Talks
Heating oil futures went down over 1% to below $3.80 per gallon on Tuesday, giving back part of the prior session’s gains as prospects of revived US–Iran talks returned. US Vice President JD Vance said progress now hinges on Tehran after weekend negotiations failed to produce a breakthrough, stating the “ball is in the Iranian court” following Washington’s proposal, and that a deal remains possible if US nuclear conditions are satisfied. President Donald Trump also said Iran had made contact through channels, while President Masoud Pezeshkian said Tehran is open to talks so long as they comply with international law. The move came after the US started a blockade of Iranian ports in the Persian Gulf on Monday, which threatens oil shipments through the Strait of Hormuz, averaging about 1.7 million barrels per day last month. Meanwhile, an OPEC report showed Gulf Arab output declined sharply in March amid disruptions, heightening concerns that recovery could take longer than expected.
2026-04-14
Heating Oil Climbs on US Blockade of Hormuz
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.
2026-04-13
Heating Oil is down by 5.01%
Heating Oil decreased 5.01% to 3.7396 USD/Gal
2026-04-10