Heating Oil Futures Rebound

2026-05-15 09:04 By Kyrie Dichosa 1 min. read

Heating oil futures for delivery at the New York Harbor climbed above $4.0 per gallon, recouping losses from a two-day decline amid heightened concerns over longer supply disruptions in the Middle East.

The rebound followed President Donald Trump’s more hardline stance toward Tehran, saying he would no longer wait on Iran and urging its leadership to reach a deal with the US.

Exports of distilled products from the region have been largely halted since the start of the war in March, straining refineries and pushing heating oil futures to a record high of $4.6 during the month.

Meanwhile, earlier this week, data from the EIA showed US distillate fuel stocks rose by 200,000 barrels in the first week of May, contrary to expectations for a 2.8 million barrel draw.

The report also contrasted with a 4.1 million barrel decline in gasoline inventories, suggesting refineries prioritized diesel and jet fuel output amid tight global transportation supply conditions.



News Stream
Heating Oil Futures Rebound
Heating oil futures for delivery at the New York Harbor climbed above $4.0 per gallon, recouping losses from a two-day decline amid heightened concerns over longer supply disruptions in the Middle East. The rebound followed President Donald Trump’s more hardline stance toward Tehran, saying he would no longer wait on Iran and urging its leadership to reach a deal with the US. Exports of distilled products from the region have been largely halted since the start of the war in March, straining refineries and pushing heating oil futures to a record high of $4.6 during the month. Meanwhile, earlier this week, data from the EIA showed US distillate fuel stocks rose by 200,000 barrels in the first week of May, contrary to expectations for a 2.8 million barrel draw. The report also contrasted with a 4.1 million barrel decline in gasoline inventories, suggesting refineries prioritized diesel and jet fuel output amid tight global transportation supply conditions.
2026-05-15
Heating Oil Eases from 6-Week High
Heating oil futures for delivery at the New York Harbor eased to $3.90 per gallon from the six-week high of $4.16, as some respite in stock levels momentarily weighed against tight supply across the globe. Data from the EIA showed that stocks of distillate fuel in the US inched higher by 200 thousand barrels in the first week of May, contrasting with bets of a 2.8 million draw. The data also contrasted with a 4.1 million barrel draw for gasoline, indicating that refineries opted to concentrate capacity in diesel and jet fuel due to the shortages in global transportation hubs. Still, supply remained tight as the escalatory remarks between the US and Iran prolonged expectations of the suspension in energy exports from the Middle East. The export of distilled products from the region has been all but halted since the start of the war in March, stressing refineries and driving the price of heating oil futures to a record high of $4.6 in March.
2026-05-13
Heating Oil Hovers Near 5-Week High
Heating oil futures for delivery at New York Harbor slipped to around $4.10 per gallon but held most of their recent gains near a five-week high, as the Middle East conflict continues without a clear resolution, prolonging disruptions to regional energy supply. US President Donald Trump has rejected Tehran’s latest response to a proposed peace framework, keeping the Strait of Hormuz effectively shut. Maritime transit through the key passageway has been halted since early March, disrupting nearly 20 million barrels per day of crude oil and refined product exports to major importing countries. In response, refineries across Europe and Asia have shifted output toward diesel and jet fuel at the expense of gasoline. Meanwhile, the National Weather Service forecasts a high likelihood that most of the US will experience above-normal temperatures over the next 6–10 days, potentially curbing near-term heating demand.
2026-05-13