Heating Oil Eases Slightly

2026-10-01 12:31 By Agna Gabriel 1 min. read

US heating oil prices eased to around $4.60 per gallon after President Donald Trump appeared less inclined to restrict diesel exports, amid concerns that such a move could trigger another surge in fuel costs.

The European Union is meanwhile discussing a coordinated response after Washington asked Germany and France to release emergency diesel reserves, while officials indicated that additional European supplies could reach the market.

Despite the decline, prices remain close to the record $5.20 reached in mid-September.

Refined-product markets remain under pressure even as Middle Eastern crude flows approach pre-war levels.

Supply has been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of its diesel-export restrictions through October.

China has also canceled some October fuel shipments as it prioritizes domestic demand.

In the US, EIA data showed distillate inventories at their lowest seasonal level on record.



News Stream
Heating Oil Eases Slightly
US heating oil prices eased to around $4.60 per gallon after President Donald Trump appeared less inclined to restrict diesel exports, amid concerns that such a move could trigger another surge in fuel costs. The European Union is meanwhile discussing a coordinated response after Washington asked Germany and France to release emergency diesel reserves, while officials indicated that additional European supplies could reach the market. Despite the decline, prices remain close to the record $5.20 reached in mid-September. Refined-product markets remain under pressure even as Middle Eastern crude flows approach pre-war levels. Supply has been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of its diesel-export restrictions through October. China has also canceled some October fuel shipments as it prioritizes domestic demand. In the US, EIA data showed distillate inventories at their lowest seasonal level on record.
2026-10-01
Heating Oil Futures Extend Gains
US heating oil futures extended gains to around $4.70 per gallon, moving closer to the record $5.20 reached in mid-September, driven by tight distillate supplies ahead of the winter heating season. EIA data showed US distillate inventories fell by 2.3 million barrels in the week ended September 25, leaving stockpiles around 14% below the five-year average for this time of year. Global diesel markets also remained tight after Russia extended restrictions on most diesel exports through October, while disruptions to refining operations have further constrained supplies. Meanwhile, President Donald Trump signaled that his support for restricting diesel exports may be cooling amid concerns over unintended price increases, while Energy Secretary Chris Wright said the administration expected announcements soon from Europe on additional diesel supplies. The White House has also urged the EU to draw down emergency diesel inventories to help curb global prices.
2026-10-01
Heating Oil Rises as Diesel Supply Tightens Ahead of Winter
Heating oil futures climbed above $4.70 per gallon, approaching the record $5.20 reached in mid-September, as tighter diesel supplies added pressure to fuel markets ahead of winter. Russia has extended its restrictions on most diesel exports through October, while also maintaining curbs on bunker fuel and gasoil shipments. The measures were introduced after Ukrainian attacks on Russian refineries reduced processing rates and have been repeatedly prolonged since July. Before the restrictions, Russia supplied about 10% of global seaborne diesel volumes, making the loss of those barrels particularly significant amid disruptions linked to the Strait of Hormuz. In the US, President Donald Trump is considering limiting diesel exports to contain domestic prices.
2026-09-30