Heating oil futures in the US rose to above $2.2 per gallon from the three-month low of $2.16 touched on March 13th, in line with higher heating demand and lower inventory aggregates. Domestic stocks of distillate fuel fell by 2.8 million barrels on the week ending March 14th according to data from the EIA, contrasting sharply with market expectations that they would remain loosely unchanged to mark the third consecutive sharp drawdown in inventories. The drop in stocks were in line with added demand for heating as blizzard conditions hit the northern Midwest states halfway through the month. Additionally, refineries in the region have already been facing higher input costs following tariffs imposed on Canadian energy.
Heating Oil decreased 0.06 USD/GAL or 2.62% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Heating oil reached an all time high of 5.86 in April of 2022. Heating oil - data, forecasts, historical chart - was last updated on March 20 of 2025.
Heating Oil decreased 0.06 USD/GAL or 2.62% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil is expected to trade at 2.17 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2.20 in 12 months time.