US heating oil prices fell below $4.40 per gallon on Friday, reaching their lowest level in one month after the G7 agreed to consider releasing up to 100 million barrels from emergency oil and diesel reserves. French President Emmanuel Macron said the coordinated release is expected to occur over four months and aims to lower prices after pressure from the Trump administration to address tightening fuel markets. Supply has also been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of diesel-export restrictions through October. US Energy Information Administration data showed distillate inventories at their lowest seasonal level on record.