US heating oil futures hovered around $2.56 per gallon, close to the over three-month low of $2.53 observed on April 18th, as supply increased and demand for distillate fuels fell. The latest EIA report showed that heating oil inventories surged by 1.073 million barrels on the week ending April 19th, the biggest increase in over two months. Similarly, distillate oil inventories increased by 1.614 million barrels, surpassing estimates of a 0.9 million barrel draw and marking a significant improvement from last week’s 2.7 million barrel draw. On the demand side, measured by distillate fuel oil products supplied, there was a decrease of 0.114 million barrels compared to the previous week, indicating reduced demand for heating oil.

Heating Oil increased 0.07 USD/GAL or 2.87% since the beginning of 2024, 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 April 26 of 2024.

Heating Oil increased 0.07 USD/GAL or 2.87% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil is expected to trade at 2.70 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 2.88 in 12 months time.



Price Day Month Year Date
Crude Oil 83.95 0.186 0.22% 3.19% 12.29% Apr/26
Brent 89.27 0.158 0.18% 4.52% 14.12% Apr/26
Natural gas 1.97 -0.0147 -0.74% 14.74% -16.29% Apr/26
Gasoline 2.77 -0.0019 -0.07% 3.51% 10.95% Apr/26
Heating Oil 2.57 0.0137 0.54% -1.31% 9.18% Apr/26
Ethanol 1.71 0 0% 8.06% -29.48% Apr/25
Naphtha 688.95 1.61 0.23% -2.92% 1.91% Apr/25
Propane 0.81 0.002 0.25% -1.39% -0.23% Apr/25
Uranium 86.10 -2.7000 -3.04% -1.03% 60.34% Apr/25
Methanol 2,527.00 -4.00 -0.16% 1.12% 5.82% Apr/26


Heating oil
Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to NYMEX Division New York harbor heating oil futures. The Heating Oil market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
2.57 2.55 5.86 0.29 1980 - 2024 USD/GAL Daily