US heating oil futures traded near $4.30 per gallon, close to a four-month high, as slower shipping through the Strait of Hormuz (vital Gulf oil chokepoint) raised concerns over fuel supply. The market was supported after more vessels were attacked in the passage late last week, including ships linked to Abu Dhabi National Oil Co., even as Middle Eastern producers continued moving substantial crude volumes through the Persian Gulf. Tensions with Iran also remained in focus, with no peace deal in sight after President Trump said he planned to intensify economic pressure and Treasury Secretary Scott Bessent said new sanctions could be announced this week. Supply strains were reinforced by frequent Ukrainian strikes on Russian oil refineries, which disrupted fuel flows, led to gasoline rationing in at least two regions and curbs on refined-product exports. Russia has also extended its existing diesel export ban until January 2027, keeping restrictions in place for the middle distillate (fuel product between gasoline and heavy oil) used in heating oil.