Heating Oil ($HEATOIL) Commodity Forecast: Down 2.3% Today

What is Heating Oil?

Heating oil, a key commodity for heating purposes, experienced a strong bearish movement in the market today.

Why is Heating Oil going down?

HEATOIL commodity is down 2.3% on Jan 14, 2026 20:40

• Heating oil prices surged to a one-month high due to renewed geopolitical risks and tighter US crude balances, reflecting concerns over unrest in Iran and uncertainty surrounding Venezuelan supply.
• Despite the recent rebound from seven-month lows, heating oil remains under pressure from ample supply and warmer-than-normal temperatures across the eastern US, which are suppressing seasonal demand.
• The sharp recovery in crude benchmarks and the larger-than-expected draw in US crude inventories contributed to the recent price increase, indicating a delicate balance between supply dynamics and geopolitical factors influencing the market movement.

HEATOIL Price Chart

HEATOIL Technical Analysis

HEATOIL News

Heating Oil Hits 1-Month High

US heating oil futures rallied above $2.25 per gallon on Wednesday, reversing the early-January slide and reaching a one-month high as crude benchmarks surged on renewed geopolitical risk and tighter US crude balances. Concerns over unrest in Iran and renewed uncertainty surrounding Venezuelan supply lifted the broader energy complex. On the supply side, the latest EIA report showed a 3.39 million-barrel increase in US crude stocks. Distillates posted only a marginal draw of about 29k barrels, undershooting expectations, though heating oil inventories fell by roughly 745k barrels, marking the sharpest weekly draw in months. The rebound reflects tighter near-term heating oil availability and heightened geopolitical risk, but upside remains constrained by ample overall crude and distillate supplies and persistently warmer-than-normal temperatures across the eastern US that continue to suppress seasonal demand.

Heating Oil Hits 4-week High

Heating Oil increased to 2.20 USD/Gal, the highest since December 2025. Over the past 4 weeks, Heating Oil gained 0.57%, and in the last 12 months, it decreased 13.84%.

Heating Oil Rebounds From 7-Month Lows

US heating oil futures rebounded above $2.15 per gallon after hitting seven-month lows near $2.06 on January 7th, closely tracking a sharp recovery in crude benchmarks as tighter US crude balances and renewed geopolitical risks lifted the broader energy complex. WTI jumped more than 4% over two sessions after a larger-than-expected 3.8 million barrel draw in US crude inventories highlighted firmer physical conditions, while fresh uncertainty over Venezuelan supply following tanker seizures and tougher sanctions enforcement reinforced near-term supply risk. Despite the rebound, heating oil remains fundamentally pressured by ample supply, with US distillate inventories rising 5.59 million barrels in the latest EIA report for an eighth straight weekly build. Persistently warmer-than-normal temperatures across much of the eastern US through mid-January continue to curb seasonal heating demand, limiting follow-through and keeping gains largely dependent on crude strength.

Trending Today

Cognex Corporation ($CGNX) Stock Forecast: Up 5.1% Today

Upwork Inc. ($UPWK) Stock Forecast: Up 5.1% Today

Digital Ocean Holdings ($DOCN) Stock Forecast: Up 5.1% Today

Fiverr International Ltd. ($FVRR) Stock Forecast: Up 5.0% Today

DexCom Inc. ($DXCM) Stock Forecast: Up 4.4% Today

Atmos Energy Corporation ($ATO) Stock Forecast: Down 1.6% Today

Northern Trust Corporation ($NTRS) Stock Forecast: Up 6.0% Today

Kroger Company (The) ($KR) Stock Forecast: Down 2.8% Today

Eaton Corporation PLC ($ETN) Stock Forecast: Down 2.1% Today

General Electric Company ($GE) Stock Forecast: Down 6.0% Today

Heating Oil Price History

19.10.2025 - HEATOIL Commodity was up 6.7%

• Heating Oil prices surged to a 19-month high of $2.71 per gallon, driven by supply worries and robust demand as winter approaches.
• Geopolitical tensions and supply risks in the crude oil market, including Russian sanctions and disruptions, contributed to the bullish sentiment.
• Despite a slight drop in prices following a smaller-than-expected draw in distillate inventories, the overall market remains bullish due to ongoing supply constraints and the tightening distillate complex.
• The market is closely monitoring global oil demand forecasts, supply dynamics, and geopolitical developments to gauge the future trajectory of Heating Oil prices.

24.05.2025 - HEATOIL Commodity was down 9.6%

• The ceasefire announcement between Israel and Iran reduced fears of supply disruptions in the Middle East, leading to a drop in crude oil prices and subsequently pressuring heating oil futures.
• Refining margins narrowed due to ample inventories and softening summer demand, while cooler-than-expected temperatures in key northeastern US markets further limited near-term consumption of heating oil.
• Despite threats of potential disruptions in the Persian Gulf, the continued transit of oil tankers and rising Iranian oil exports contributed to the downward pressure on heating oil prices.
• Forecasts of a major US heat wave and high demand for refined fuel products like diesel and marine fuel could tighten the market, but the current geopolitical situation and supply dynamics are keeping speculative interest high and preventing a significant decline in heating oil prices.

23.05.2025 - HEATOIL Commodity was down 13.4%

• Today, heating oil experienced a strong bearish movement, dropping from a recent high of $2.60 per gallon.
• The bearish trend in heating oil prices can be attributed to the easing of geopolitical tensions in the Middle East, particularly between the US and Iran, which has reduced fears of supply disruptions in the region.
• Additionally, ample inventories, softening summer demand, and forecasts of cooler temperatures in key northeastern US markets have also contributed to the downward pressure on heating oil prices.
• The overall market sentiment seems to have shifted towards a more relaxed stance, with traders focusing on factors such as supply levels, demand outlook, and geopolitical developments to gauge future price movements in the heating oil market.

23.05.2025 - HEATOIL Commodity was down 9.8%

• Despite tensions escalating in the Middle East, especially involving the US, Israel, and Iran, immediate supply disruptions have not occurred, easing worries of a significant oil shortage and leading to a decrease in heating oil prices.
• The reduction in US crude inventories, alongside a strong demand for diesel, marine fuel, and summer-grade products, has helped heating oil prices. However, this has not fully balanced the overall market sentiment.
• President Trump's announcement of postponing US involvement in the Israel-Iran conflict has eased concerns temporarily, contributing to the decline in heating oil futures.
• The increase in heating oil prices to a 14-month peak was mainly caused by a squeeze in distillate supplies, growing costs of crude-oil feedstock, and increasing geopolitical risks, indicating the volatile nature of the commodity market.

20.10.2025 - HEATOIL Commodity was down 5.1%

• Heating Oil experienced a bearish movement today due to a combination of factors:
• An unexpected distillate build of 171 thousand barrels tempered immediate physical tightness, easing the upside potential for Heating Oil prices.
• Crude feedstock costs softened as crude prices fell amid signals of potential diplomatic resolutions to a conflict, reducing the geopolitical risk premium.
• Forecasts of a possible global surplus next year by an organization and rising global inventories weighed on crude fundamentals, indirectly impacting Heating Oil prices.
• Colder weather forecasts for late November and early December revived heating demand, but the market is now balancing softer crude fundamentals against genuine product tightness, with weather likely to dictate the next market move.

18.10.2025 - HEATOIL Commodity was up 5.0%

• The bullish movement in heating oil prices can be attributed to supply risks in the crude feedstock complex, which lifted oil benchmarks and offset concerns about a global surplus.
• Recent events such as Ukrainian drone strikes on Russian ports, staff cuts at Lukoil, and reduced purchases of Russian crude by India and China have tightened near-term seaborne flows, contributing to the bullish sentiment.
• However, the market remains cautious as forecasts of rising global inventories and a potential supply glut in the oil market could pose challenges in the future, balancing the current bullish outlook for heating oil.

23.09.2025 - HEATOIL Commodity was up 5.2%

• Heating Oil futures experienced a strong bullish movement today, reaching a three-week high of $2.32 per gallon. This surge can be attributed to several factors:
• New sanctions on Russia's top oil producers tightened global supply expectations, boosting prices.
• Weather forecasts shifting towards seasonally normal conditions signaled rising heating demand.
• The report of distillate fuel oil stocks staying below average, along with significant stock draws earlier this year, added to the bullish sentiment.
• The rebound in Heating Oil prices also reflects a tight distillate complex meeting a firmer crude backdrop and an improved seasonal demand outlook.
• Despite the recent bearish trend with Heating Oil hitting a four-month low and an 18-week low, today's bullish movement indicates a shift in market sentiment driven by a combination of geopolitical events, weather forecasts, and supply-demand dynamics.

23.09.2025 - HEATOIL Commodity was up 5.1%

• The bullish movement in Heating Oil prices was primarily driven by a sharp draw in distillate inventories and the onset of winter demand, despite weak crude feedstock costs.
• The tightening supply of heating fuels, along with expectations of higher heating demand due to cooler weather conditions, contributed to the rebound in Heating Oil prices.
• The market movement was also supported by a significant decrease in distillate stocks, indicating a tighter distillate complex.
• Despite concerns about weak demand and global supply pressures on crude oil, Heating Oil outperformed other oil benchmarks due to the favorable inventory data and seasonal demand outlook.

14.00.2026 - HEATOIL Commodity was down 2.3%

• Heating oil prices surged to a one-month high due to renewed geopolitical risks and tighter US crude balances, reflecting concerns over unrest in Iran and uncertainty surrounding Venezuelan supply.
• Despite the recent rebound from seven-month lows, heating oil remains under pressure from ample supply and warmer-than-normal temperatures across the eastern US, which are suppressing seasonal demand.
• The sharp recovery in crude benchmarks and the larger-than-expected draw in US crude inventories contributed to the recent price increase, indicating a delicate balance between supply dynamics and geopolitical factors influencing the market movement.

18.06.2025 - HEATOIL Commodity was up 5.3%

• The bullish movement in heating oil prices today can be attributed to a combination of factors:
• Softening consumption signals and concerns over trade wars have tipped the supply/demand balance towards ample stocks, leading to a drop in prices.
• President Trump's threat of imposing tariffs on EU and Mexican goods, along with existing duties on Canadian energy products, has injected uncertainty into global economic growth forecasts, potentially slowing fuel consumption.
• Refiners in China favoring gasoline and diesel output over middle distillates have left heating oil more exposed, contributing to the downward pressure on prices.
• On the other hand, the bullish movement can also be linked to rising crude feedstock costs lifting refining margins and supporting distillate values, leading to higher heating oil prices.

18.06.2025 - HEATOIL Commodity was up 5.4%

• The surge in heating oil prices to near one-month highs can be attributed to a combination of factors such as warfare in the Middle East, tight supplies, solid demand, and output disruptions in Iraqi Kurdistan and EU sanctions on Russian oil, creating a bullish sentiment in the market.
• Conversely, the drop in heating oil prices to a monthly low was influenced by softer consumption signals, renewed trade-war concerns, a surprise build in distillate inventories in the US, and President Trump's tariff threats on EU and Mexican goods, leading to a bearish market movement.
• The upward momentum in heating oil prices, hovering at two-week highs, was driven by rising crude feedstock costs, refining margins, and distillate values, as well as ongoing refinery maintenance and disruptions in bunker fuel flows to Europe, supporting the bullish trend in the market.

21.10.2025 - HEATOIL Commodity was down 6.2%

• The bearish movement in Heating Oil prices today can be attributed to:
• A surprise build in distillate inventories, breaking a streak of heavy draws and easing immediate physical tightness.
• Falling crude prices due to diplomatic signals indicating a potential peace talks scenario between two countries, which could lead to higher oil exports and alleviate oversupply concerns.
• Rising US crude stocks and forecasts of a possible global surplus next year, softening forward pricing and weighing on crude feedstock costs support.
• The market balancing softer crude fundamentals against genuine product tightness, with colder weather forecasts driving buying but also concerns about global inventories and supply glut in the longer term.