12.06.202515:05:12UTC+00Heating Oil Retreats From 10-Week Highs

Heating oil futures have decreased to approximately $2.18 per gallon, retreating from the ten-week peak of $2.209 observed on June 11th. This decline follows a drop in crude oil benchmarks, which has affected fuel prices amid renewed trade uncertainties and plentiful distillate inventories. President Trump's declaration of plans to issue formal tariff notifications to significant trade partners in the upcoming weeks, prior to the end of the 90-day hiatus on reciprocal tariffs next month, has unsettled energy demand forecasts. Concurrently, the latest data from the Energy Information Administration (EIA) revealed a rise in distillate stocks by 1.246 million barrels, twice the anticipated increase, along with a climb in heating oil inventories by 487,000 barrels — the largest build since January. This has exerted additional downward pressure on prices, even though seasonal consumption projections remain robust.