US Heating Oil Prices Ease

2026-09-18 01:38 By Kyrie Dichosa 1 min. read

US heating oil prices eased to around $5.05 per gallon, retreating from a record high of $5.26 reached earlier this week, as rising inventories and expectations of alternative routes for Middle Eastern barrels offered some respite from tight distillate supplies.

EIA data showed distillate inventories, including diesel and heating oil, rose by 1.6 million barrels in the week ended September 11 but remained 13% below their five-year average.

Meanwhile, Saudi Arabia was reportedly seeking to restore about half the capacity of its East-West oil pipeline within days after drone attacks halted the key link to the Red Sea, while offering additional crude cargoes to Asian refiners via ship-to-ship transfers off Oman’s Sohar port.

Still, supply risks persisted as Saudi Arabia and Iran-backed Houthi forces exchanged fresh strikes.

With winter approaching, distillate demand could strengthen, while refinery maintenance could constrain production and put further pressure on already-tight supplies.



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US Heating Oil Prices Ease
US heating oil prices eased to around $5.05 per gallon, retreating from a record high of $5.26 reached earlier this week, as rising inventories and expectations of alternative routes for Middle Eastern barrels offered some respite from tight distillate supplies. EIA data showed distillate inventories, including diesel and heating oil, rose by 1.6 million barrels in the week ended September 11 but remained 13% below their five-year average. Meanwhile, Saudi Arabia was reportedly seeking to restore about half the capacity of its East-West oil pipeline within days after drone attacks halted the key link to the Red Sea, while offering additional crude cargoes to Asian refiners via ship-to-ship transfers off Oman’s Sohar port. Still, supply risks persisted as Saudi Arabia and Iran-backed Houthi forces exchanged fresh strikes. With winter approaching, distillate demand could strengthen, while refinery maintenance could constrain production and put further pressure on already-tight supplies.
2026-09-18
Heating Oil Holds Near Record High
US heating oil prices held around $5.20 per gallon, remaining near their record high and leaving them about 120% higher than a year earlier amid concerns over tightening distillate markets. EIA data showed distillate inventories, including diesel and heating oil, rose by 1.6 million barrels in the week ended September 11, but remained 13% below their five-year average, underscoring continued inventory tightness. This comes amid disruptions on multiple fronts, with Middle East supply constraints compounded by Ukrainian attacks on Russian refineries and Russia’s export curbs. Some pressure eased after Saudi Arabia offered additional crude through Oman. Meanwhile, with the US harvest season underway and the winter heating season approaching, distillate demand could strengthen further, while seasonal refinery maintenance could constrain production and add pressure to already-tight supplies.
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