Heating Oil Pauses Gains

2026-04-21 00:54 By Kyrie Dichosa 1 min. read

US heating oil futures eased to around $3.50 per barrel on Tuesday, pausing gains from the previous session, as traders weighed signs that Iran may join talks with the US ahead of the ceasefire’s expiry.

Tehran is reportedly sending a delegation to Islamabad, though its leadership remains unclear, despite earlier hesitation to resume negotiations.

Still, friction remained intense as President Trump previously said extending the truce is highly unlikely and cautioned against overwhelming military force.

Iran’s top negotiator also accused the US of pressuring talks, rejecting negotiations under threats, and warning of escalation.

Ongoing tensions in the Middle East have kept energy markets volatile since March, particularly as the Strait of Hormuz remains closed.

The standoff at this key chokepoint risks worsening the global energy crisis.

Meanwhile, warmer-than-normal temperatures through April 30 may reduce both heating and cooling demand.



News Stream
Heating Oil Pauses Gains
US heating oil futures eased to around $3.50 per barrel on Tuesday, pausing gains from the previous session, as traders weighed signs that Iran may join talks with the US ahead of the ceasefire’s expiry. Tehran is reportedly sending a delegation to Islamabad, though its leadership remains unclear, despite earlier hesitation to resume negotiations. Still, friction remained intense as President Trump previously said extending the truce is highly unlikely and cautioned against overwhelming military force. Iran’s top negotiator also accused the US of pressuring talks, rejecting negotiations under threats, and warning of escalation. Ongoing tensions in the Middle East have kept energy markets volatile since March, particularly as the Strait of Hormuz remains closed. The standoff at this key chokepoint risks worsening the global energy crisis. Meanwhile, warmer-than-normal temperatures through April 30 may reduce both heating and cooling demand.
2026-04-21
Heating Oil is up by 5.02%
Heating Oil increased 5.02% to 3.5681 USD/Gal
2026-04-20
Heating Oil Jumps 5%
US heating oil futures jumped 5% to above $3.55 per barrel on Monday, recovering most losses after hitting a more than five-week low in the previous session, tracking a rebound in crude oil prices amid renewed Middle East tensions. Over the weekend, President Donald Trump said a US Navy guided-missile destroyer struck and disabled an Iranian-flagged cargo ship in the Gulf of Oman, after which Marines boarded and seized it. The move followed reports that Iran fired on commercial vessels transiting the Strait of Hormuz, as Tehran again shut the chokepoint, saying the US blockade of Iran-linked ships violated a ceasefire set to expire Tuesday. The standoff over the Strait of Hormuz risks worsening the global energy crisis and challenges Trump’s expectation of a swift resolution to the conflict. Elsewhere, forecasts indicate mostly warmer-than-normal temperatures through April 30, which could lessen both heating and cooling demand.
2026-04-20