Heating oil had a strong price correlation to crude oil. Heating oil, also known as #2 fuel oil, accounts for 25% of the yield from a barrel of crude oil.
Most of the demand for heating oil comes from October through March to heat homes in the U.S. Heating oil price has a strong correlation to diesel price.
Watch for our chart updates on the EIA Weekly Status Reports that report inventory and product supplied (demand). Bookmark this page or subscribe to our market updates newsletter to make smarter decisions when it comes to trading heating oil futures. And when you’ve decided trading heating oil futures is right for you, get started opening your account today.
Refinery efficiency will have an influence on the finished product markets. Efficiencies can be seasonally based on scheduled maintenance programs, and also be affected by unplanned disruptions like war, natural disasters, etc.
Refining margins play a big role in the supply of finished products. Utilizing crack spreads is how refinery operations decide how much and what product to produce. Since crude oil is the starting product, refiners must purchase it to then refine it into a finished product like gasoline, jet fuel, diesel, etc, and then sell the finished products. Some of the common crack spreads are the 1:1, 3:2:1, and 5:3:2 spreads.
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EIA Petroleum Report 3/1 Crude Inventories build at a slower pace, while Gas and Distillates see strong draw. In its latest update, the U.S. Energy
Crude Oil Prices Respond to Inventory Fluctuations, Shipping Challenges, Production Estimates. Crude oil prices witnessed a surge today following the Energy Information Administration’s (EIA) report,
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⛽EIA Energy Stocks🛢️ In early trading Crude oil prices experienced a slight decrease following the Energy Information Administration’s report of a 6 million barrel inventory
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Today, crude oil prices experienced a decrease following the U.S. Energy Information Administration’s report of a 5.9 million barrel inventory increase for the week ending
The U.S. Energy Information Administration (EIA) reported a decline of 1.5 million barrels in the estimated inventory for the week ending July 1. This decline
Draw Confirmed by todays EIA report, Crude Prices See Upside. EIA Energy Stocks API Estimates (6/27/23) Crude: -2.408M Gasoline: -2.85M Distillates: +0.777M Today’s EIA report
Exchange: New York Mercantile Exchange
Exchange Symbol: HO
Tick Size: $0.0001 (0.01 cent) per gallon ($4.20 per contract)
Contract Size: 42,000 gallons
Months: All Months
Trading Hours: 5:00 pm – 4:00 pm (Sun-Fri) (RTH 8:00 am – 1:30 pm) (Settles 1:30 pm) CST
Margin/Maintenance: $14,300/13,000
Livestock Aims to Sustain Momentum Michelle Rook and Kent Beadle from Paradigm Futures delve into the latest trends in grain...
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