Heating Oil Hits Record High

2026-09-14 00:38 By Kyrie Dichosa 1 min. read

US heating oil prices climbed to around $5.10 per gallon, reaching a record high as mounting supply disruptions raised concerns over already-tight distillate markets.

Saudi Arabia’s closure of the East-West oil pipeline has compounded ongoing shipping disruptions through the Strait, deepening concerns over crude availability and further tightening refinery feedstock supplies.

Separately, disruptions along Yemen’s Red Sea coast are constraining shipping through the Bab el-Mandeb Strait, while Ukrainian attacks on Russian refineries are further limiting diesel supplies amid Russia’s export curbs.

EIA data showed US distillate inventories remained 13% below the five-year average in the week ended September 4, while refineries operated at 97.8% of capacity, leaving limited room to boost output.

With seasonal agricultural activity underway and the winter heating season approaching, demand could strengthen further, adding pressure to already-tight distillate supplies.



News Stream
Heating Oil Hits Record High
US heating oil prices climbed to around $5.10 per gallon, reaching a record high as mounting supply disruptions raised concerns over already-tight distillate markets. Saudi Arabia’s closure of the East-West oil pipeline has compounded ongoing shipping disruptions through the Strait, deepening concerns over crude availability and further tightening refinery feedstock supplies. Separately, disruptions along Yemen’s Red Sea coast are constraining shipping through the Bab el-Mandeb Strait, while Ukrainian attacks on Russian refineries are further limiting diesel supplies amid Russia’s export curbs. EIA data showed US distillate inventories remained 13% below the five-year average in the week ended September 4, while refineries operated at 97.8% of capacity, leaving limited room to boost output. With seasonal agricultural activity underway and the winter heating season approaching, demand could strengthen further, adding pressure to already-tight distillate supplies.
2026-09-14
US Heating Oil Surpasses $5
US heating oil prices climbed above $5.0 per gallon, their highest level on record, amid persistent tight distillate supplies. EIA data showed that US distillate stockpiles, which include diesel and heating oil, rose by 2.1 million barrels in the week ended September 4, but remained 13% below the five-year average, indicating that inventories remain low. US refineries also operated at 97.8% of capacity during the week, leaving limited room to further increase distillate production. The supply squeeze comes as global supply risks intensify on multiple fronts, with Houthi attacks targeting Saudi energy infrastructure, prolonged disruptions in the Strait of Hormuz, and Ukrainian attacks on Russian refineries further constraining diesel supplies amid Russia’s export curbs. Meanwhile, seasonal agricultural activity and the approaching winter heating season could further boost distillate demand, putting additional pressure on already-tight supplies.
2026-09-11
Heating Oil Near Record High
US heating oil prices held around $4.76 per gallon, near a record high as refineries grappled with increasingly constrained refined-product supplies. The Middle East war continued to escalate as Iranian-backed Houthis launched strikes on Saudi energy facilities, including the Jazan oil refinery. This comes on top of ongoing disruptions and reduced traffic through the Strait of Hormuz, while Ukrainian attacks on Russian refineries are further limiting global diesel supplies, adding to the impact of Moscow’s existing export restrictions. Meanwhile, demand could increase as seasonal agricultural activity picks up, while the approaching winter heating season could add to pressure on distillate supplies. US refineries were already operating at 98% of capacity in the week ended August 28, leaving limited room to further increase distillate production. EIA data also showed that US distillate fuel stocks were 14% below the five-year average in late August.
2026-09-09