US heating oil prices hit record high near $5.10 per gallon

  • US heating oil prices reached a record high near $5.10 per gallon.
  • 2.1 million barrels were added to US distillate inventories during the week ended September 4.
  • US distillate inventories remained 13% below the five-year average.

US heating oil prices climbed to around $5.10 per gallon, reaching a record high as supply disruptions intensified concerns about already-tight distillate markets. Saudi Arabia’s closure of its East-West oil pipeline added to ongoing energy infrastructure attacks and shipping disruptions through the Strait, raising concerns about crude availability and tightening refinery feedstock supplies. Separately, disruptions along Yemen’s Red Sea coast are constraining shipping through the Bab el-Mandeb Strait, while Ukrainian attacks on Russian refineries are limiting diesel supplies amid Russia’s export curbs. EIA data showed US distillate inventories, which include diesel and heating oil, rose by 2.1 million barrels in the week ended September 4 but remained 13% below the five-year average. Seasonal agricultural activity and the approaching winter heating season could strengthen demand further, increasing pressure on distillate supplies.

本网站上的信息是使用AI生成的,我们无法保证其准确性。 请仅作为参考信息使用。
US heating oil prices hit record high near $5.10 per gallon - CoinPost Terminal