Heating OilMarkets
Heating Oil Pulls Back

Heating oil futures fell 2.5% toward $3.83 per gallon on Friday, as prospects for a stronger ceasefire agreement in the Middle East improved. US President Trump signaled a degree of optimism ahead of the meeting between US and Iran delegations this weekend, while Israel moved toward a truce in Lebanon and Gaza. The developments reduced concerns over supply disruptions, particularly around key routes such as the Strait of Hormuz, prompting a further unwinding of the risk premium built earlier this week. Despite the daily decline, heating oil remains up about 50% since early March, supported by structurally tight refining capacity, while persistent geopolitical uncertainty continues to drive volatility.
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