Heating Oil Extends Advance

2026-08-19 01:43 By Judith Sib-at 1 min. read

US heating oil futures climbed toward $4.50 per gallon on Wednesday, extending gains to their highest level since March, as the deadlock over the Strait of Hormuz heightened concerns about prolonged supply disruptions.

President Donald Trump said that no talks with Iran were taking place or planned, asserting that the US naval blockade remained active and that the strait was open after mines were cleared.

Iran, however, countered that the waterway would remain closed until the US fulfilled its prior conditions.

Traffic through the critical chokepoint came to a standstill over the weekend following attacks on vessels, underscoring persistent security risks to energy shipments.

Meanwhile, Ukrainian strikes on Russian oil refineries have disrupted domestic fuel supplies, resulting in gasoline rationing in at least two regions and tighter controls on refined-product exports, with Russia extending its ban on petrol exports until January 2027 and diesel exports until August 2026.



News Stream
Heating Oil Extends Advance
US heating oil futures climbed toward $4.50 per gallon on Wednesday, extending gains to their highest level since March, as the deadlock over the Strait of Hormuz heightened concerns about prolonged supply disruptions. President Donald Trump said that no talks with Iran were taking place or planned, asserting that the US naval blockade remained active and that the strait was open after mines were cleared. Iran, however, countered that the waterway would remain closed until the US fulfilled its prior conditions. Traffic through the critical chokepoint came to a standstill over the weekend following attacks on vessels, underscoring persistent security risks to energy shipments. Meanwhile, Ukrainian strikes on Russian oil refineries have disrupted domestic fuel supplies, resulting in gasoline rationing in at least two regions and tighter controls on refined-product exports, with Russia extending its ban on petrol exports until January 2027 and diesel exports until August 2026.
2026-08-19
Heating Oil Hits Over 4-Month High
US heating oil futures rose to around $4.45 per gallon on Tuesday, reaching their highest level since early April, as fading hopes for a near-term resolution to the US-Iran conflict heightened expectations of prolonged supply disruptions from the region. President Donald Trump said he was not interested in extending an agreement with Tehran that technically expired on Monday, while disagreements over the Strait of Hormuz continue to complicate negotiations. Iran is holding separate talks with Oman on managing the waterway, with Trump threatening to bomb Oman if it interferes with a US blockade. Still, continued crude shipments through the Persian Gulf waterway have eased some supply concerns. Elsewhere, frequent Ukrainian strikes on Russian oil refineries have disrupted fuel supplies, prompting gasoline rationing in at least two regions and restrictions on refined-product exports. Russia has since extended its existing diesel export ban until January 2027.
2026-08-18
Heating Oil Hits 18-week High
Heating Oil increased to 4.38 USD/Gal, the highest since April 2026. Over the past 4 weeks, Heating Oil gained 6.18%, and in the last 12 months, it increased 95.21%.
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