US heating oil futures fell back to around $3.26 per gallon on Thursday after rising in the previous session, as traders assessed conflicting geopolitical signals. Iran and Oman agreed on the division of their respective shares of the Strait of Hormuz’s waters and related revenues, but Tehran said an agreement with Oman alone would not be sufficient to reopen the strategic waterway. Crude also appeared to be moving out of the Persian Gulf. Losses were limited by reports that Russia is preparing to intensify attacks on Ukraine after concluding that peace negotiations had reached a dead end. The prospect of prolonged Russian refined-product export restrictions, alongside Ukrainian strikes that pushed refinery runs toward multiyear lows, added support. EIA (U.S. Energy Information Administration) data showed US distillate stockpiles fell by 2.2 million barrels last week, exceeding expectations for a 1.6 million-barrel decline and signaling tight inventories.